What Happened to Cheap Postwar Oil?

Combine a creeping comeback for Iraqi crude with plenty of other supply and inventory troubles, and what you get is $30 a barrel

In the three anxious months leading up to the Iraq war, oil prices soared by 25%, to more than $37 a barrel. Despite the alarming rise, many energy experts were quick to argue that a fast and decisive victory would send oil tumbling below $25 for the rest of the year.

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