Oil Up Again

Previously a $5 move would be front page news. Now it’s just to be expected:

Crude oil for July delivery rose $5.07, or 3.9 percent, to settle at $136.38 a barrel at 2:48 p.m. on the New York Mercantile Exchange. Oil reached a record $139.12 a barrel on June 6. Futures have doubled in 12 months as investors looking to hedge against the dollar’s drop helped push oil, gold and corn to records this year.