Crude prices breach $45 level
Friday, August 13, 2004 (New York):
Crude oil prices jumped well above $45 a barrel on Thursday, continuing to rally on uncertainties in oil-producing nations at a time when demand is strong and the world's excess output capacity is thin.
The price of light, sweet crude for September delivery surged 70 cents to $45.50 on the New York Mercantile Exchange - the highest settlement price on record.
Traders said on Thursday they were focused on potential supply troubles in Iraq, where the oil infrastructure has been threatened by the instability and in Russia, where oil giant Yukos faces a multi-billion dollar back-tax bill. (snip)
http://www.ndtv.com/money/templatebusiness.asp?slug=Oil+prices+touch+new+high&template=crudeprices&callid=5&id=20820
Good night, all.
Good night Honestly.
And the pump prices are still dropping.
I question the timing.