This BBC clip reports that the price of oil has surged to yet another record, closing at just over $100 a barrel in New York.
< http://www.bbc.co.uk/mediaselector/check/player/nol/newsid_7250000/newsid_7254200?redirect=7254244.stm&news=1&bbwm=1&bbram=1&nbram=1&nbwm=1&asb=1 >
a) Using a S&D diagram, explain why the clip suggests the price of oil has increased
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