Oil prices turned higher Thursday, setting another record high over $80 a barrel, as Hurricane Humberto made landfall along the refinery-laden Texas coast.
Light, sweet crude for October delivery rose 9 cents to $80.01 a barrel on the New York Mercantile Exchange. The electronic contract touched $80.20, breaking Wednesday's intraday record of $80.18....
Despite Wednesday's jump in crude prices, oil is still well below inflation-adjusted highs hit in early 1980. Depending on the adjustment, a $38 barrel of oil in 1980 would be worth $96 to $101 or more today...
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