Oil prices shot up nearly $7 a barrel today,
extending big gains from the previous day and racing toward an
all-time high after a Morgan Stanley analyst predicted prices could
hit $150 by the Fourth of July.
A further weakening of the dollar helped keep prices high by
enticing overseas buyers armed with stronger currencies and other
investors looking for a hedge against the greenback.
Light,sweet crude for July delivery jumped $10.75 to settle at $138.54 in
New York.
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