Oil crashes through $60 mark

A sense that the worst is over in the global economic crash and a hope that a recovery is not too far away has led to the price of oil reaching its highest point in six months.

At one point it rose to over $60 a barrel before settling back to around $58 / barrel currently.

Stocks of oil are high but there is a belief amongst investors that demand will once again begin to rise. There has yet to be any significant concernes raised regarding inflation, though that will surely come.

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