In this article it talks about how the price of crude oil per barrel has hit a 2.5 year high. In the US the price per barrel is fluctuating around $108-$109 a barrel, however in other countries the price per barrel is much higher fluctuation around $120-$121 per barrel. Experts are attributing this oil shortage to the hostility in Iran, Libya, and other parts of north africa. However, at the same time they say that this shortage should be balanced by the decreasing demand in Japan for crude oil after the recent effects from the tsunami.
http://www.foxbusiness.com/2011/04/04/crude-oil-hits-25-year-high-brent-nears-120/#
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