Crude oil rallies to new high at $97 a barrel

Source: MarketWatch






Read more: http://www.marketwatch.com/news/story/futures-movers-crude-oil-rallies/story.aspx?guid=%7B3C5E2306%2D4D8D%2D4D81%2DAA76%2DFD40213833F8%7D&dist=hplatest

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Yeah, what a rally indeed.


:eyes:

Source: msnbc.com

Oil futures jumped to a new record near $97 a barrel Tuesday after bombings in Afghanistan and an attack on a Yemeni oil pipeline compounded the supply concerns that have driven crude prices higher in recent weeks.

Oil was already up before news of the blasts in northern Afghanistan that killed 64 people and the attack in Yemen. Severe weather forecasts for the North Sea, expectations that domestic crude supplies fell last week and the weak dollar all contributed to the latest move upward........


At the pump, meanwhile, gas prices continued to rise, following oil’s 39 percent price jump since August. The national average price of a gallon of gas jumped 2 cents overnight to $3.024 a gallon, according to AAA and the Oil Price Information Service.


The analysts expect that refinery use grew by 0.8 percentage point to 87 percent of capacity.

Read more: http://www.msnbc.msn.com/id/12400801/

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Why aren't the refineries going all out? We are in home heating oil season, they should be producing it as quickly as possible.


wanna bet that Exxonmobile next Q goes back to record profits?

quite possibly due to trying to hold prices down to where we little people won't start to plot revolution or switch to electric cars or other such nonsense.

This would be a lot more fun to watch if we weren't stuck in the middle of it.

is now over £1.00 i.e. c. $2.00 a litre. I'll let you do your own conversion : your gallon differs from ours.

a litre is slightly > a quart. but for arguments sake lets say it equals a quart. 4 quarts to a gallon =~$8.00 per gallon.


How much of that is taxes?

comprised of duty whatever duty and VAT @ 17.5%

there will be no stopping it . . . up, up and away . . .

and bush will still announce that the economy is strong and that if you exclude fuel and food, there is no inflation.

Because, you know, that's not the STUFF PEOPLE NEED, or anything. :eyes:

More billions for us!!

The US is truly sheep to the world.

A good portion of this is due to the decline in the value of the U.S. dollar.