Oil Prices Set New Highs Above $110

Oil Prices Set New Highs Above $110

biz.yahoo.com

Oil prices on Thursday hit a record high above $110 a barrel as investors fled the tumbling dollar that fell to new lows against the euro and a 12-year low versus the yen.
Light, sweet crude for April delivery rose 78 cents to reach $110.70 in early afternoon European electronic trading on the New York Mercantile Exchange. On Wednesday, it had set a record trading high of $110.20 a barrel.

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I a have feeling this wont stop till we hit around $155/barrel but that may not happen till 2009. I think we'll definitely be half way there by the end of the year. The terrible thing is the impact it will have on fuel and food prices.

Also a word to the Queen's subjects, yes your fuel prices cost more, but its your taxes causing those prices which pay for all kinds of great things like healthcare.

We dont have those great things, we dont have great mass transit, and many of us on the other side of the pond drive over 50 km a day to work. We are simply sending money to line the pockets of Exxon Mobil. So please be more considerate of your cousins over here.

biz.yahoo.com
(visit the link for the full news article)





[edit on 13/3/08 by MikeboydUS]