[caa26]

If the situation with Noth Korea gets worse or a war starts, or Iran/Venezuela does something crazy or a major hurricane strikes the Gulf Coast, we could be looking at oil shooting towards $100 a barrel.

Also, what exactly are the recent snags in oil shipping & refining along the Gulf Coast mentioned in the article? Is this just related to recovery from Katrina, and some of the refineries still being offline?

[coconutt2000]

Gas prices in Hawaii haven't been below $3/gal in a long time now.

[Hegemony Cricket]

What say we have a war for oil?

[daybreakcoming]

Just heard prices were going to spike due to "jitters over NK's missiles". BS. They'll use anything to spike'em.

[redgolum]

Interesting.

[EagleUSA]

OPEC will have their day. It is coming.

[TheRobb7]

"I'm-gonna-keep-drivin'-mah-F150-no-matter-what-the-Drive-By-Media-cries-about" PING.

[goldstategop]

ROFL! Gas prices ARE already above $3.00 a gallon at the gas pump. Seen that, been there. They can raise it to $1,000 a barrel for all I care.

(The Palestinian terrorist regime is the crisis and Israel's fist is the answer.)

[RightWhale]

I can't say I see a link between the price of gasoline and the price of oil that gasoline should drive oil directly. If anything it should be an inverse relation. It might be that the futures market tends to link the two no matter what, but it would seem odd that gasoline should be controlling.

[bruinbirdman]

Last week, the U.S. House of Representatives passed the Deep Ocean Energy Resources Act that would end the 25-year ban on oil and gas drilling along 85 percent of the nation's coastline if it becomes law.

yitbos

[Falcon_Hedge]

caa26-

There was an oil spill in a Louisiana shipping channel a week or so back. The Coast Guard shut down water traffic going inland. I think there are either 2 or 3 decent sized oil refineries located up that channel that depend on barges to move their products, including gasoline.

[familyop]

When oil goes up enough to cut down fuel demands here in the States, maybe more Americans will develop the guts to support the needed regime change in Iran--the main national source of the problem.

Our highways are full of old RVs full of whiners and the like, so let it go up to a few hundred dollars per barrel.

Although we don't get the news in western media (corporate sponsors want to appease the enemy), Iran again said "no way" to stopping uranium enrichment even temporarily yesterday. Oil prices may drop a little once in a while, but they'll generally go up, until the Iran situation is cleaned-up by force.

[AdamSelene235]

Looks like more volatile food and energy prices will need to be ignored by the core inflation numbers.

Next time you buy gas, remember to ask for the core inflation rate.

[IronJack]

demand continues to rise despite soaring prices.

Now, who wants to explain THIS phenomenon in light of so-called Free Market rules?

[Glenn]

The start of a new fiscal quarter also has brought more speculative money into the market, brokers said.

Okay, class. More dollars chasing fewer goods is?

[CedarDave]

More worries from Mexico:

Lopez Obrador leading Calderon in Mexican Vote Recount

[dakine]

This is a good thing...remember we are in "The Long War"

[Drago]

California gas at $3.00, headed for $4.00 PING!!

[TLI]

North Korea? You gotta be kidding. We didn't even have time to get our defense system running before the missles failed! And the speculators are using THAT to jack the price of oil?

"Missile defense tested briefly in rocket's failure / Bill Gertz

North Korea's firing of seven missiles was the first real test of the new U.S. ground-based missile defense, even though the failure of the long-range Taepodong-2 seconds after launch prevented the Pentagon from responding with a U.S.-based interceptor, d (Nation/Politics) "