Oil prices closed above 50 dollars a barrel for the first time in a year, since last summer, June or July. This is not good news for the American consumer but its not just gasoline prices that are going higher, a lot of prices are going up.
Related ETFs: Energy Select Sector SPDR ETF (XLE), United States Oil Fund LP ETF (USO), Nymex Crude Oil Futures
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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