On March 13, it rose to$110.17.
'For example the spot price -- your main tuner -- will roll over into the next month’s contract and when that happens you can see how the current contract merges into the next.'
'So if you can, imagine all the contracts merging into one and you have a price range not for the future, but for today. In which case oil, right now, could be anywhere between $132 per barrel -- its lowest point on the curve -- and $141 per barrel, its highest point.'
Image: Customers at an Arco gas station in Richmond, California. The cost for a gallon of regular gasoline reached $4.20, a record high. | Photograph: Justin Sullivan/Getty Images
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