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Slugcatcher on the record high oil price

JUST as Mark Twain dismissed reports of his death being an exaggeration, so too must <I>Slugcatcher</I> dismiss reports of the oil price nearing a record high, though for an interesting reason &ndash; oil is already at a record high if you're shopping in euros or British pounds.

Over the past few weeks, as the latest version of a Middle East crisis has unfolded (Iranian edition), the oil price as measured in US dollars has risen above $US125 a barrel for Brent crude and close...

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