Oil up to $97 a barrel

Kizzume · Posted: Tue Dec 04, 2007 11:33 pm Post subject: Oil up to $97 a barrel

http://news.google.com/news?hl=en&ie=UTF-8&tab=wn&ncl=1123197736

I thought it would be quite a bit longer before it got this high. Wow!!! I thought it'd be like March, but this--this is pretty intense.

chuq · Joined: 04 Dec 2007 Posts: 135 Location: Gulf South

Now up to $98.20 a barrel.

Nov. 7 (Bloomberg) -- Crude oil rose above $98 a barrel for the first time in New York as the dollar tumbled to a record low against the euro and producers evacuated platforms in the North Sea, evading a storm forecast to bring waves as high as 36 feet.

BP Plc and ConocoPhillips evacuated oilrig workers yesterday, adding to supply concerns before a U.S. Energy Department report that may show inventories fell for a third week. The dollar slumped, pushing up prices of commodities denominated in the currency, on expectations the U.S. Federal Reserve may cut interest rates.

LINK

Kizzume · Posted: Tue Dec 04, 2007 11:34 pm Post subject:

That $100 mark won't take much longer to get to, unfortunately.

chuq · Joined: 04 Dec 2007 Posts: 135 Location: Gulf South

It is all a game. The price will retreat and then surge and then retreat. The higher price is coming, just depends when they want it to break the ceiling.

Kizzume · Posted: Tue Dec 04, 2007 11:35 pm Post subject:

I think it will be a week and it will go up to $100.