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The continued rise in U.S. crude oil prices, which hit an all-time high above $122 a barrel on Tuesday, seems almost unending.
Robust demand for crude and a weak dollar have fuelled the rally from a dip below $50 at the start of 2007 to fresh records almost every day.
Adjusted for inflation, oil is now above the $101.70 peak hit in April 1980, according to the International Energy Agency, a year after the Iranian revolution.
If that wasn't enough, Goldman Sachs predicted on Tuesday that oil could soar towards $150-$200 a barrel because of a lack of adequate supply growth.
That leads to our Fast Money Reader Poll. By cutting rates, do you think the Fed created a worse problem in high oil prices than we already had with recession?
Read More
> Why Crude-Oil Prices Just Keep Going Up and Up
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