Wow Oil prices almost at $50 a barell
Posted: Thu Aug 19, 2004 3:16 pm
It closed today at $48.70 a new record ever for a closing day in oil trade.Oh boy more higher prices at the pump if those prices sustain for a long period of time.
In the commodity market, crude oil for September delivery settled at $48.70 a barrel on the New York Mercantile Exchange, a new high and a gain of $1.43.
Prices have hit record highs in 14 of the last 15 sessions on continued concern about strong global demand and possible supply shortages. Thursday's spike followed news that Iraqi militants had set fire to Iraq South Oil company buildings.
In the commodity market, crude oil for September delivery settled at $48.70 a barrel on the New York Mercantile Exchange, a new high and a gain of $1.43.
Prices have hit record highs in 14 of the last 15 sessions on continued concern about strong global demand and possible supply shortages. Thursday's spike followed news that Iraqi militants had set fire to Iraq South Oil company buildings.
