The Rise and Fall and Rise of Oil Prices : Planet Money Last summer, the price of oil was $44 a barrel. This week, it briefly hit $70. What happened? And what does it mean for the future of oil prices?
NPR logo The Rise and Fall and Rise of Oil Prices

The Rise and Fall and Rise of Oil Prices

Last June the price of oil was $44 a barrel. Then, it started climbing. Earlier this week, it briefly hit $70.

The price of oil is a big deal. It affects how much you pay for heating, or a gallon of gas, or a flight home.

The price of oil is also famously volatile, and in the last six or seven years it's taken an incredible ride. On today's show, we tell the story of what happened and try to figure out what it means for the future of oil prices.

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