Oil jumps $11 in one day.

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"Oil jumps $11 in one day."

The price of oil shot up nearly $11 in just one day and settled at a record $138.54 per barrel today, “capp[ing] oil’s biggest two-day gain in the history of the New York Mercantile Exchange.” The skyrocketing prices come on the heels of a disappointing U.S. jobs report — which showed the largest monthly increase in unemployment since 1986 — and a prediction from a Morgan Stanley analyst that oil could reach $150 a barrel by July 4.

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