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Monday, April 28, 2008
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Just in time for your tax rebates to arrive
posted by
Dookie The Webmaster
9:38 AM
OPEC knows you're going to use it for at least one fillup.
North Sea pipeline closure drives oil close to $120 US
Oil prices hit an all-time high near $120 US a barrel Monday after a weekend refinery strike closed a pipeline system that delivers a third of Britain's North Sea oil to refineries in the U.K.
The shutdown comes amid other supply outages in Nigeria that have helped to support oil against a strengthening dollar.
"We've got a confluence of a number of events that have really disrupted crude oil supply," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore. "That's what's driving oil to a new record even though the U.S. dollar actually strengthened a bit."
Light, sweet crude for June delivery rose to a record $119.93 US a barrel in electronic trading on the New York Mercantile Exchange. The contract eased back to trade at $119.26 US a barrel, up 73 cents from Friday's regular trading session closing price.
Raped
Permalink
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1 comments
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They sound exactly like the spokespeople for Enron. They're definitely using the same tricks to drive up their profits.....
posted by
at 11:25 AM |
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