One Year Anniversary of Oil's Intraday Record High - Analysis and Discussion with Maynard Holt of Tudor, Pickering, Holt & Co. (Bloomberg News)
Oil closed 2008 at $44.60 after falling from $147 nearly a year ago. Crude then surged from below $35 in March in part on investor concern that massive U.S. fiscal stimulus spending will eventually spark high inflation. Investors often buy commodities such as crude as a hedge against a weakening dollar and inflation.
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