Oil Price thread

[bruce]

Very good

Crude is currently 88.18, down slightly for the day.

[addict]

Oil prices have surged to record levels as traders bet that the Opec oil producing nations will reduce output.

In New York, the main contract for light sweet crude oil closed at a record $101.01 a barrel, up $4.51.

BBC NEWS | Business | Oil prices hit record in New York

[hoon]

Back below $100 now.

BBC NEWS | Business | Oil prices slip back below $100

[forfi]

Originally Posted by addict

as traders bet

Parasites

[include]

Up, down, back up again.

Oil prices have closed at a record in New York, for the second day in a row.
The main contract for light sweet crude closed at $100.74 a barrel, up 73 cents. At one stage during the session it rose as high as $101.32 per barrel.

BBC NEWS | Business | Oil at a record again in New York

[hoon]

Bloody speculators. In other news, British Gas reports record profits. Grr.

[arno]

Actually, this is more a commentary on the falling value of the dollar; it has little or nothing to do with the cost of oil.

[bruce]

Kinda sums things up right now.

Oil Prices: It's Not About the Oil

"These movements have nothing to do with supply or demand, or with oil for that matter," says Fadel Gheit, senior analyst with Oppenheimer (OPY) in New York. "There is more exaggeration than ever before in this market."

[forfi]

Stop worrying girls mamas got a brand new bag.Or at least India has [Is it still called India or am I politically incorrect again?]

Gas Hydrates - India Project, USGS-ERP