HUFFINGTON POST

Treasury Secretary Says Record Oil Prices Hurting US Economy...

World oil prices slumped more than one dollar amidst profit taking, but fresh record highs above 60 dollars likely would be reached unless strong demand for energy cooled, analysts said.

New York's main contract, light sweet crude for delivery in August, plunged 1.29 dollars on Tuesday to 59.25 dollars per barrel in early deals.

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