Iran: Oil to Reach $150 a Barrel

Iranian oil minister Rostam Qasemi said that crude oil should be $150 a barrel on Sunday. 

"During the winter, oil prices always climb," Qasemi said. "So it's natural that this year as well we will have a rise in oil prices in the winter." 

Brent crude benchmark prices jumped to $118 a barrel on Friday.

On the day of President Barack Obama's inauguration, gas cost $1.84 a gallon on average. Today, gas costs $3.84 a gallon.


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