With oil prices topping the $59 mark, there was a modest sell-off on Wall Street as concerns grew that higher energy costs -- especially during the summer months -- may slow U.S. economic growth.

Says one investment fund manager: "Oil prices going up and up is definitely going to slam the economy into reverse. Lower stock prices are certainly expected from higher oil prices."

The good news, though, is that these historically high oil prices may not last long. According to a report published in Forbes, there has been talk that OPEC may deliver an extra 500,000 barrels of oil a day and increase its production quotas in order to relieve some of the pressure on the market.