Crude futures continue to explore the upper price reaches, but getting too much further might not happen so easily.
Oil leaped into uncharted territory Friday, soaring past the $126-a-barrel mark for the first time, and leaving analysts and investors wondering how high the price will go.
U.S. light crude futures for June delivery hit an intraday record $126.20 in electronic trading, backing off to $125.31 by around 1 p.m. ET. That was still $1.62 above Thursday's record closing settlement of $123.69 a barrel.
The price of a barrel of crude oil has more than doubled in the past year. On May 9, 2007, the active contract settled at $61.55 a barrel.
And if oil has doubled in the past year, what has to happen for oil to hit $150 a barrel?
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