Another Record ($143.67)

emersonbiggins · **Posted:** Wed Apr 16, 2008 1:24 pm

vision-master wrote:

So $3.35 gal will be $3.49 next week?

That translates to only a 0.1% monthly increase, according to the FED. No worries. [smilie=5propeller.gif]

Gandalf_the_White · **Joined:** Wed Nov 21, 2007 1:00 am **Posts:** 178

Since the Fed is rich enough to bale out the starving hedge fund managers, who only made ten digit incomes last year, I doubt they think paying twice as much for gas is really that big of a deal. We can just create an option on options, and call it the Abyss. If we work hard we can inflate that puppy to about 500 quadrillion dollars in a few years and everyone who owns that paper will look like a trillionaire, on paper that is.

And the wall, came tumblin' down,
And the wall, came rumblin' tumblin dooowwwwn

Ferretlover · **Posted:** Wed Apr 16, 2008 2:34 pm

$115.00 @ 3:35 CT

vision-master · **Posted:** Wed Apr 16, 2008 2:46 pm

Gandalf_the_White wrote:

Since the Fed is rich enough to bale out the starving hedge fund managers, who only made ten digit incomes last year, I doubt they think paying twice as much for gas is really that big of a deal. We can just create an option on options, and call it the Abyss. If we work hard we can inflate that puppy to about 500 quadrillion dollars in a few years and everyone who owns that paper will look like a trillionaire, on paper that is.

And the wall, came tumblin' down,
And the wall, came rumblin' tumblin dooowwwwn

The Stones "Till the Walls Come Tumbling Down". :cool:

yesplease · **Joined:** Tue Oct 03, 2006 12:00 am **Posts:** 3652

*Waits for $200/bbl*

something_awfull · **Posted:** Wed Apr 16, 2008 10:44 pm

$115.03

Zardoz · **Posted:** Thu Apr 17, 2008 12:09 am

Barchart.com showing the new record now at $115.21.

Upstream Online has the Tapis spot price at a breathtaking $122.38.

Makes your head spin, doesn't it?

Gandalf_the_White · **Joined:** Wed Nov 21, 2007 1:00 am **Posts:** 178

Tapis Lazuli?

Schadenfreude · **Joined:** Wed Jan 16, 2008 1:00 am **Posts:** 586

Oil, in March 2004, at the time that PeakOil.com went live, was trading at a few dollars more than $30/barrel. The price at the end of March '04 was $33.48, to be more exact.

At this rate, it won't be long before oil is $100 higher than what people were growing concerned about even back then.

lowem · **Posted:** Thu Apr 17, 2008 2:41 am

NYMEX hit $115.45 in Asian trading hours.

Yes, we have yet another record.

Schadenfreude · **Joined:** Wed Jan 16, 2008 1:00 am **Posts:** 586

lowem wrote:

NYMEX hit $115.45 in Asian trading hours.

Yes, we have yet another record.

At several times during the past several years, when oil has shot up in price, there have been jitters in the market about a US attack on Iran. Remember, last time, when the teeth seemed to fall out of Bush's Iran ranting, the price of oil fell back?

I've always been one to bet against any US aggression against Iran and it seems just as stupid a thing to contemplate as it ever has. But I can't help but observe that the same nervousness is re-appearing just as the price of oil is increasing once again.

I respect markets for being able to react to news that has not been reported in the press. Often, you can tell some news is about to break by how markets are moving (more often, vice-versa, of course). I wonder if Attack On Iran speculation has anything to do with this latest run-up?

Gerben · **Posted:** Thu Apr 17, 2008 5:36 am

Schadenfreude wrote:

I wonder if Attack On Iran speculation has anything to do with this latest run-up?

I doubt it. It's rather unlikely that the US will attack Iran. They are already overstretched in their current wars. They will have to retreat from Iraq. They are not in a position to start a new war.

joewp · **Posted:** Fri Apr 18, 2008 10:28 am

It touched $116.19 about 20 minutes ago. That's how long it took this page to load. This site sure gets slow when the oil price is going up. Funny how that happens!

strider3700 · **Posted:** Fri Apr 18, 2008 11:37 am

Is this about nigeria or is something else going on?

Armageddon · **Posted:** Fri Apr 18, 2008 11:43 am

Why do these huge dips happen, then a huge rebound ?

Another Record ($143.67)

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