FatalWishes
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Oil crosses $129 for first time, heads for $130
| Quote From Source: | Crude oil futures pass $129 a barrel for the first time, likely headed past $130
VIENNA, Austria (AP) -- Oil prices spiked to a new trading high Tuesday, sweeping toward $130 a barrel as supply concerns intensified the momentum buying that has lifted crude deeper into record territory.
The June contract for light, sweet crude traded as high as $129.46 on the New York Mercantile Exchange before settling back to $129.10, up $2.05.
Prices are currently being driven higher by supply concerns. This latest surge comes after OPEC's president was quoted as saying his organization won't increase its output before its next meeting in September.
| | Click source url to view entire story. |
Source Yahoo Biz
Source URL:
http://biz.yahoo.com/ap/080520/oil_prices.html
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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DanG has attached this image:
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FatalWishes
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The market sure doesn't like this. I think maybe they were looking for an excuse to cash in some of the gains...but we are beyond that now...its tanking hard.
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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like I said in another thread... I wouldn't play the market these days with -- your money.  |
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chrisisasavage
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I love that pic Dan. |
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MattN
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$130 today. |
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chrisisasavage
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So, do you thibk it'll hit $150 this year, and do you think we see $5.00 gas? |
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MattN
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I'm wondering if we won't see $150 by July 4th. |
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DanG
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like I said, I dunno somewhere on here...
we'll blow right by 4 bucks a gallon.
$ 4.50 this year.
------------------
got MPG ?
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DanG
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MattN
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$132 at noon. Maybe we'll see $150 by the end of the month? |
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FatalWishes
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Shortage fears push oil futures near $140
http://www.ft.com/cms/s/0/c2...77b07658.html?nclick_check=1
How about now Mattn???
“Eighty-five million barrels of oil a day is all the world can produce, and the demand is eighty seven million. It's as simple as that”
T. Boone Pickens
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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![[*]](/images/corporate/default_icon.gif){kind=icon}
posted on 5/20/2008 at 09:50
