Oil: OPEC in Charge, $90 on the Way?

With supply flagging, prices could reach exorbitant levels by fall, but experts say the world economy should be able to handle it

Over the past few months, the oil markets have sharply changed course. After dipping below $60 per barrel in early 2007, prices have come roaring back. U.S. benchmark West Texas Intermediate (WTI) crude is now trading at $76.19 per barrel, its highest level since last August.

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