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Best Economic News of the Day

3:52 PM, Sep 22, 2008 • By DEAN BARNETT
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Oil prices soairng! Yes, in light of other event this really is good news. The Wall Street Journal reports:

Oil prices soared were up more than $25 and their intraday high and finished with a gain of $16.37, or 16%, at $120.92 a barrel in New York as the likelihood of a bailout prompted bets that the economy would stay on firmer footing, keeping demand for fuel on an even keel. Expiration of contracts for October delivery also added volatility to the market, traders said.

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