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Chart of the Day
The price of crude oil continues to rise. Today’s chart provides some perspective on the latest price spike with a long-term view of West Texas Intermediate Crude. One point of interest is that oil is trading near 26-year highs but still below the inflation-adjusted highs of 1980. It is also interesting to note that most oil price spikes were a result of Middle East crises and often preceded or coincided with a US recession.
Notes:
- Which way is oil headed and what does the current oil spike mean for the stock market? The answers may surprise you. Find out now with the exclusive & highly regarded charts of Chart of the Day Plus.
Source - Dow Jones
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Quote of the Day
"We are not afraid to entrust the American people with unpleasant facts, foreign ideas, alien philosophies, and competitive values. For a nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people." - John F. Kennedy
Events of the Day
October 01, 2007 - Supreme Court session begins
October 08, 2007 - Columbus Day (observed)
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