Posted on 07/30/2004 1:07:01 AM PDT by RWR8189
July 30 (Bloomberg) -- Crude oil futures in New York rose to a record on concern increased demand and disruptions to supply may sap inventories before the Northern Hemisphere's winter, when heating fuel consumption peaks.
Oil rose as high as $43.14 a barrel, the highest in the 21 years since the futures began in New York, and traded at $43.13 at 2:39 p.m. Singapore time. On Wednesday, oil rose to $43.05 a barrel after OAO Yukos Oil Co., Russia's biggest oil exporter, said its shipments may be cut by a dispute with the government over tax payments.
Oil futures have risen 41 percent in the past year as economic growth in China and the U.S. fueled demand and as shipments were disrupted by sabotage of pipelines in Iraq, labor unrest in Nigeria and civil unrest in Venezuela.
(Excerpt) Read more at quote.bloomberg.com ...
Kerry slammed the House of Saud in his speech. They out to return the favor by opening the spigots.
out = aught
ANWR! ANWR! ANWR! Horizontal drilling! Horizontal drilling! Horizontal drilling! Bush needs to get serious about this! I'm SICK of depending on other countries for oil!
Curious.
The Dem convention ends, and the Saudis attack President Bush immediately trying to destabilize him.
Moore is so so wrong: The Saudis hate Pres. Bush.
The want pro-Palestinian, blind-eye-toward-Wahabbism Kerry in the White House.
I'm serious.
You are so right.
I didn't read the entire article but yesterday I heard that much of the recent rise was due to the possibility of a Russian oil company being forced to shut down over an unpaid tax bill.
oops. There it is in the excerpt.
We shouldn't have to convince Earth Firster's to save our country's economy.
Check the post a bit later than this one which said oil prices are going down. The Saudi's are going to be pumping oil like mad. The Russians will try to keep the price up, so it will be interesting.
Why does the U.S.A. still 'pay' for Islamic Russians?
The 'Soviet' Mosque Tax.......
Sad,.......
WW-III,....WW-IV,......WW-'V'.....
/sarcasm
Yes: investors are concerned about that Russian oil company.
It is also important (just for the sake of confusion's sake) to recognize that the commodity market has gasoline listed significantly below the $1.47/gal price it was a couple months ago. Last I checked it was at $1.27/gal.
Will this help companies like Harken (HEC), etc. or just end up being a bust?
Two months ago, I reported that Tx oil magnate T. Boone Pickens predicted $3.00/gal at the pumps before fall. I also advised not to sell short in oil...LOL.
Hope you still have you're money!
We'll see on his prediction...
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