Oil price over $147 for the first time-now above $80

[Hybridstorm_November2001]

The real problem for the status quo is the increasing consumption of non-oil producing countries China and India. Once they become fully industrialized Super Powers (say another 60 plus years for India, maybe as little as 40 or less for China) each with a population of over one billion mind you, then the **** will really hit the fan.

[Nimbus]

Oil dropped by about 3 bucks a barrel today after OPEC stated that they were going to increase output.

http://new.quote.com/futures/adv_chart.action?s=CL+1%21

Unfortunately Tuesday is options expiration day and the price of oil is already climbing again.

[Cryomaniac]

Oil dropped by about 3 bucks a barrel today after OPEC stated that they were going to increase output.

http://new.quote.com/futures/adv_chart.action?s=CL+1%21

Unfortunately Tuesday is options expiration day and the price of oil is already climbing again.

The price has risen by 2.43 again today, according to kitco.com link

[Nimbus]

Looks like wholesale gasoline prices bottomed out yesterday Afternoon at $2.31 a gallon.



Wonder if it will break out of the trading range above $2.38 today?

[arkess7]

It's up to 3.24 a fillipin gallon here! UGGGGGGGGGGGGGG!!!!!!!!!

[Stephanie]

$2.86 for regular here.

[JonathanBelles]

3.06/gal here

[f5]

looks like its time to cash in on renewable energy stocks, in time as the price of oil goes up people will be looking for alternatives.

[Cryomaniac]

According to kitco.com the price of oil rose $3.52 today, to 98.16.

[Stephanie]

Has been holding steady the past few days, but if it rose over $3.00 today, I'm sure it'll be up again tomorrow.

[Nimbus]

There was a plateau in oil prices at $80 a barrel in September as speculators took profits, should happen again at $100 a barrel.


http://data.tradingcharts.com/intraday_ ... 0df720.png?

Intraday we should see the Bulls horns breaking the $100 a barrel mark. Wonder how many speculators will grab them and ride?

[Nimbus]

This is strange news, a Canadian pipeline that carries 20% of Americas oil exploded this morning?

http://www.forbes.com/markets/2007/11/2 ... ets09.html

Makes you wonder if it really was an accident.

The local media stated that the fire closed route 3 but it appears the pipeline runs underground where it crosses route 3?

[JonathanBelles]

It does seem that oil prices have risen today according to Bloomberg.com from the 90.62 yesterday to some where near 92.75/barrel.

[Nimbus]

Now they are finally talking about using the Strategic petroleum reserve.

http://abcnews.go.com/US/WireStory?id=3931574

[gtalum]

Now they are finally talking about using the Strategic petroleum reserve.

That would be an utterly stupid move. They should be expanding it, not using it.

[coriolis]

^ Agree. It would be short term relief, wouldn't address the underlying issues, and may have to be replaced with even more expensive oil.

[Nimbus]

That held the investors off for a month but oil hit $100 a barrel today.

[JonathanBelles]

yet, overall, gas prices have been going down. I got gas on Monday for $2.81, it was over $3 in Orlando though.

[Nimbus]

U.S. President George W. Bush "would not use the Strategic Petroleum Reserve (SPR) to manipulate prices unless there was a true emergency," White House press secretary Dana Perino said on Wednesday.


http://news.xinhuanet.com/english/2008- ... 361120.htm

[HURAKAN]

Just down to $2.95 at a Mobil gas station a few blocks from my house.