FatalWishes
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New York oil price crosses 120 dollars for first time
| Quote From Source: | Oil prices crossed 120 dollars a barrel here Monday following fresh unrest in Nigeria, Africa's largest oil producer.
New York's main oil futures contract, light sweet crude for June delivery, briefly hit 120.20 dollars, before slipping back at 1520 GMT to 120 dollars, a gain of 3.68 dollars from the closing price on Friday.
The price surge came on supply jitters from Nigeria and geopolitical tension in Iran, analysts said.
Volumes were light, however, as the British and Japanese markets observed a public holiday.
"Nigeria is the lingering hotspot the markets will be focusing on," said MF Global analyst Ed Meir.
| | Click source url to view entire story. |
Source Breitbart
Source URL:
http://www.breitbart.com/art....a4coj6jx&show_article=1
So when these contracts come up and its time for this oil to be made into gas....what does that equate to? About $4.60 a gallon?
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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MattN
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WTF happened today? Did someone fart in the mid-east or something? Oils up $4!!! |
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Indy
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I was just thinking late last week when the price of oil went down to about $115 per barrel that it was time for another convenient "disruption".
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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DanG
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DanG has attached this image:
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![[*]](/images/corporate/default_icon.gif){kind=icon}
posted on 5/5/2008 at 11:57
