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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: John Vosilla who wrote (94329)	5/16/2008 11:25:29 AM
From: Jim McMannis	Read Replies (1) of 110194

Oil pushed above $127 a barrel for first time Friday May 16, 9:35 am ET By Pablo Gorondi, Associated Press Writer Oil prices briefly rise to record above $127 a barrel in volatile trading Oil prices soared more than $3 a barrel, surpassing $127 for the first time Friday and putting more pressure on already lofty gasoline and diesel prices ahead of the summer driving season in the northern hemisphere. Also pushing oil prices up were speculation that China's demand for diesel needed to fuel its power plants would rise due to reconstruction efforts after this week's earthquakes and an upward revision of an oil price forecast by investment bank Goldman Sachs from $107 to $141 a barrel for the second half of the year.

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