BUSINESS
03/28/2008 02:45 am ET | Updated May 25, 2011

Will Oil Hit $100 This Week?

The price of oil is approaching $100 a barrel, an important psychological barrier for Americans already hard hit by higher energy prices and the threat of a housing-induced economic slowdown.

Even though headlines will scream, markets will get nervous, and politicians will blame each other, the real economic impact of a triple-digit price for petroleum is uncertain. It depends on whether the price is temporary or it continues to surge upward, analysts said.

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