FatalWishes
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Oil Rises Above $70 a Barrel
| Quote From Source: | NEW YORK (AP) -- Oil futures rose above $70 a barrel in New York trading Thursday for first time since Sept. 1 and retail gasoline prices stopped falling after a government report showed that gasoline inventories dropped unexpectedly just as the summer driving season is about to peak.
Light, sweet crude for August delivery gained $1.21 to $70.19 a barrel on the New York Mercantile Exchange. The front month contract last settled above $70 on Aug. 31.
Retail gasoline prices held steady overnight at a national average price of $2.975 a gallon, according to AAA and the Oil Price Information Service. Gas prices had been falling steadily since their May 24 peak of $3.227 a gallon. Analysts have said pump prices could start rising again if gasoline inventories don't increase.
| | Click source url to view entire story. |
Source Biz.Yahoo
Source URL:
http://biz.yahoo.com/ap/070628/oil_prices.html?.v=18
How much money does it take to build a refinery? All these oil companies posted record profits....WTF are they doing with that money?
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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causeiambetta
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speculation before the FOMC meeting/announcement today at 2:15pm. more important to watch where prices go after that.
i think oil traders expect 'dove-ish' language to come out |
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FatalWishes
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I think your post clearly shows why it is back up.
ClimatePatrol.com - Russia lays claim to the North Pole - all its gas & oil
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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DanG
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http://www.marketwatch.com/quotes/cl07q?sid=1942584 |
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causeiambetta
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see, the speculators are laying off after the FOMC announcement, where rates remained unchanged and wording was 'everything's just swell folks!' |
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posted on 6/28/2007 at 10:31
