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

5/7/08

NEW YORK - Oil futures rose to a new record above $123 a barrel Wednesday after the Energy Department reported an unexpected drop in diesel and heating oil supplies last week. At the pump, gas prices rose for the first time since last week.
Light, sweet crude for June delivery rose to a new record of $123.56 in afternoon trading on the New York Mercantile Exchange before retreating slightly to trade up $1.50 at $123.34 a barrel.
http://www.msnbc.msn.com/id/12400801/

 

We need just a few more people to surrender to the idea that oil prices will never come down.

Once everyone accepts it as a fact, "Pop!!" goes the bubble.

Hello, $60 or $80 a barrel oil.

 

When is that bubble going to burst?? why cant just someone burst it right now?

 

My guess is in a month or so.

 

i would say the stinky is churning in the fan blades as we speak!!!!!!!!!!!!!!!!!!!

 

I believe that you are correct, and that oil will fall to $85 to $95 a bbl.....

 

Hope so anyway. Thanks.