RENEE MONTAGNE, host:
NPR's business news starts with oil at $138 a barrel.
Oil prices have come down a little from Friday's eye-popping $11 jump in prices, but not much. In overseas trading, oil prices are still hovering between $137 and $138 a barrel. On Friday, they were past 139.
Meanwhile, investment bank Morgan Stanley is forecasting oil could top $150 a barrel by July 4th. OPEC still refuses to pump extra oil. The oil producing groups insist that rising prices are due to financial speculation, not lack of supply. And rising demand from China may not slow down any time soon. The government there is keeping its cap on energy prices. Officials there in China fear higher energy prices will fuel inflation and social unrest. Transcript provided by NPR, Copyright NPR.