Article Image

IPFS News Link • Energy

Oil spikes above $70 for first time this year

• MSNBC

“There’s this feeling of ’here we go again’ with what happened last year,” Kloza said. “It hurts discretional spending. It leaves people to think about not taking those summer vacations.”

 Gas prices added another 2 cents overnight, climbing to their highest level in more than seven months to $2.592 a gallon, according to auto club AAA, Wright Express and Oil Price Information Service. A gallon of gas costs 48.2 cents more than it did a month ago, but it’s $1.397 cheaper than last year.

 This week, Goldman Sachs revised its forecast and predicted that oil would rally to $85 a barrel by the end of the year as the economy stabilizes and OPEC production cuts take hold.

 The forecast assumes, however, that the Or


thelibertyadvisor.com/declare