Oil passes $120 for first time, gas prices slip more than a cent

BigDiesel · May 1, 2008

Oil at $200 a barrel...... It won't happen in our lifetime...... Remember that good news does not sell papers.....

Roadmedic · May 1, 2008

BigDiesel said: ↑

Oil at $200 a barrel...... It won't happen in our lifetime...... Remember that good news does not sell papers.....
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I hope you are right, but there are alot of investors hoping for it.

rex · May 1, 2008

BigDiesel said: ↑

Oil at $200 a barrel...... It won't happen in our lifetime...... Remember that good news does not sell papers.....
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Beg to differ, but crude will be at $200/bbl within 36-42 months.
rx

stranger · May 1, 2008

How can a business that makes 7 or 8% profit be considered crooks?
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Remember that is corporate profit. What did the people that work there make? Well above the national average I'm sure. As I stated earlier, 7-9% is just a number that is manufactured. I can show a net loss every year if I want, or show profits of 200%, and it all be legal.

Cybergal · May 5, 2008

Oil passes $120 for first time, gas prices slip more than a cent
5/5/08

NEW YORK Oil futures surged to a new record over $120 a barrel Monday as supply threats emerged overseas and the dollar weakened against the euro. Retail gas prices, meanwhile, fell more than a cent over the weekend, offering further evidence that prices may have peaked for the year.

Light, sweet crude for June delivery rose to a new trading record of $120.21 a barrel on the New York Mercantile Exchange Monday before retreating slightly to trade up $3.52 at $119.84.

"The (oil) market is bolstered by news out of Iraq, where Turkish forces have once again been involved in cross-border raids against ... insurgents, and Nigeria, where rebels attacked three oil wells and pipelines feeding (an) export terminal over the weekend," said Addison Armstrong, director of market research at Tradition Energy in Stamford, Conn., in a research note.
http://www.thetrucker.com/News/Stor...20forfirsttimegaspricesslipmorethanacent.aspx
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old-six-pack · May 5, 2008

propaganda came from russia huh??????? are we americans so stupid that we believe all of this bulls---??????

Lurchgs · May 5, 2008

Six-pack.. I'm confused... .. Russia? BS? Aliens? Smolensk? Nuclear?

Cybergal · May 6, 2008

Oil futures rise to all-time high near $121 a barrel on fear of threat to supply, weaker dollar
5/6/08

VIENNA, Austria Oil futures rose to an all-time high near $121 a barrel Tuesday with new concerns about a threat to supply and a weaker dollar.

The surge in oil prices was also fueled by hopes that the U.S. economy will be spared a sharp downturn after the release of data Monday showing an unexpected expansion in the U.S. service sector in April, analysts said.

Light, sweet crude for June delivery rose to a record $120.93 a barrel in electronic trading on the New York Mercantile Exchange on Tuesday. The contract later retreated to $119.88 a barrel, down 9 cents from Monday's close.

Crude futures settled on Monday at $119.97 a barrel, up $3.65 from Friday's close.
http://www.thetrucker.com/News/Stor...barrelonfearofthreattosupplyweakerdollar.aspx
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Cybergal · May 6, 2008

Oil passes $122 on $200 oil prediction, supply concerns
5/6/08

NEW YORK (AP) -- Oil futures blasted to a new record over $122 a barrel Tuesday, gaining momentum as investors bought on a forecast of much higher prices and on any news hinting at supply shortages. Retail gas prices edged lower, but appear poised to rise to new records of their own in coming weeks.

A new Goldman Sachs prediction that oil prices could rise to $150 to $200 within two years seemed to motivate much of Tuesday's buying, although a falling dollar and increasing concerns about declining crude production in Mexico and Russia contributed, analysts say.

Light, sweet crude for June delivery jumped to a new record of $122.47 a barrel before retreating slightly to trade up $1.29 at $122.26 on the New York Mercantile Exchange.
http://biz.yahoo.com/ap/080506/oil_prices.html?.v=14
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WiseOne · May 7, 2008

NEW YORK (AP) -- Oil futures blasted to a new record near $123 a barrel Tuesday, gaining momentum as investors bought on a forecast of much higher prices and on any news hinting at supply shortages. Retail gas prices edged lower, but appear poised to rise to new records of their own in coming weeks.

A new Goldman Sachs prediction that oil prices could rise to $150 to $200 within two years seemed to motivate much of Tuesday's buying, although a falling dollar and increasing concerns about declining crude production in Mexico and Russia contributed, analysts say.
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