When we took a look at oil prices last Friday oil was hitting a new 6 month high, and we noted that we could be seeing $60 oil by the end of this week. We did indeed see oil hitting $60 this week, but today prices took a hit, dropping back down under $57 a barrel.
The main reason prices retreated today was in reaction to disappointing news on retail sales, unemployment, and more bad news from the housing market. Oil has dropped $2.10 a barrel today to $56.52, and some analysts think that it still has a way to go before stabilizing.
Oil continued its charge today and 
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