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FACTBOX-Oil at $100 nears inflation-adjusted high

Thu Feb 21, 2008 3:02pm IST
 
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 Feb 21 (Reuters) - U.S. oil surged to a nominal all-time
high of $101.32 a barrel on Feb. 20.
 That is just below the $101.70 peak, adjusted for inflation,
hit in April 1980 -- a year after the Iranian revolution,
according to the International Energy Agency.
 The following table from the BP Statistical Review picks out
key moments in oil market history. It gives average annual
dollar-denominated oil prices in money of the day and the
equivalent price in 2006 money. Prices are in dollars a barrel.
 Year                                 Money of    Inflation
                                      the day      adjusted
 1864 - Pennsylvania oil boom             8.06       104.35
 1876 - Russian oil exports start         2.56        48.64
 1948 - Rebuilding post World War Two     1.99        16.74
 1974 - Arab oil embargo                 11.58        47.54
 1979 - Iranian revolution               31.61        88.13
 1980 - Iran-Iraq war starts             36.83        90.46
 1990 - Iraq's invasion of Kuwait        23.73        36.76
 1998 - Asian economic crisis            12.72        16.22
 2003 - China 2nd biggest oil consumer   38.27        40.83
*2008 average                            93.02        93.02
 NOTE:
 1861-1944 - U.S. average
 1945-1983 - Arabian Light posted at Ras Tanura
 1984-present day - Brent dated
 *2008 U.S. crude
 Source: BP Statistical Review of World Energy June 2007

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