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Oil Skyrockets

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posted on Sep, 22 2008 @ 01:27 PM
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Oil skyrockets


money.cnn.com

NEW YORK (CNNMoney.com) -- Oil prices jumped more than $20 a barrel Monday in biggest dollar jump ever as the dollar falls following the government's $700 billion Wall Street bailout plan.

Oil surged $22.46 to $127.01 a barrel, after reaching as high as $128.55 - a $24 gain - at these levels it will be oil's biggest gain ever in dollar terms.

(visit the link for the full news article)



[edit on 22-9-2008 by MatrixBaller04]




posted on Sep, 22 2008 @ 01:27 PM
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Wow...What a jump. It was just at $112 like 20 minutes ago.

money.cnn.com
(visit the link for the full news article)



posted on Sep, 22 2008 @ 01:33 PM
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Man that [snip]. Just when the price was going down quite steadily and even bottomed out under $100 a barrel. Man...

I can see the crime rate going higher all over the country soon.

Mod Edit: 1b.) Profanity: You will not use profanity in our forums, and will neither post with language or content that is obscene, sexually oriented, or sexually suggestive nor link to sites that contain such content.

[edit on 22-9-2008 by lombozo]



posted on Sep, 22 2008 @ 01:34 PM
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They are saying the jump is due to short sales.

Ama



posted on Sep, 22 2008 @ 01:35 PM
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Apparently it is up $25 now. What on earth?
Where can I find a place to watch the price live?



posted on Sep, 22 2008 @ 01:38 PM
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Sure am glad I filled up this morning.

Pisses me off that even when it drops, the price of gas and food, etc... does not drop appropriately.



posted on Sep, 22 2008 @ 01:42 PM
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They want to get our money before it is engineered into worthlessness.

Also, the contracts they can seal at this rate will protect them from downturns in the market.



posted on Sep, 22 2008 @ 01:43 PM
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Just started going down in price here as well. I guess it will start to creep up again soon.



posted on Sep, 22 2008 @ 01:49 PM
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Well they were saying that the rise in prices was because this was the end of the October contract and that next month the November contract will have prices at $109/barrel.

If that makes any sense to anyone...



posted on Sep, 22 2008 @ 01:51 PM
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Will that be followed by a rise in the Euro?

I have noticed (but not studied it) that whenever the price of oil rises the Euro also rises when compared to the Dollar, and vice versa.

I have been thinking about searching more info about the oil price in Euros, I think that it has been more or less stable, but I have no real data about it.



posted on Sep, 22 2008 @ 01:54 PM
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It's raping time for all of us...

It's now up 24.71 at 129.26!!!!



posted on Sep, 22 2008 @ 01:55 PM
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I wouldnt get your panties in a wad yet....................stop the fear mongering please.



posted on Sep, 22 2008 @ 01:58 PM
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It's at 128.10/barrel on bloomberg

www.bloomberg.com...



posted on Sep, 22 2008 @ 02:00 PM
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Originally posted by 38181
I wouldnt get your panties in a wad yet....................stop the fear mongering please.


What is there to fear? Reality?

I would expect interest in the variations of oil pricing to be most relevant to many here. Why should they suppress their views? Shall we control their speech now..., no news unless it's warm, fuzzy, and reassuring?



posted on Sep, 22 2008 @ 02:03 PM
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I was thinking the same thing - Why not get my panties in a wad? This isn't something that might happen, it's happening as we speak. Oil seems to be going up sharply and that directly affects your average American.

I say, sir, that your panties are not sufficiently wadded.



posted on Sep, 22 2008 @ 02:03 PM
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Originally posted by ArMaP
Will that be followed by a rise in the Euro?

I have noticed (but not studied it) that whenever the price of oil rises the Euro also rises when compared to the Dollar, and vice versa.

I have been thinking about searching more info about the oil price in Euros, I think that it has been more or less stable, but I have no real data about it.


Is this any use for what you're referring to mate:

www.oil-price.net...

[edit on 22-9-2008 by StarTraveller]



posted on Sep, 22 2008 @ 02:25 PM
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reply to post by StarTraveller
 


Thanks, it helps a little.

I have found this page with the price variation in Euros for Brent, but what I wanted was a side by side comparison between the price in Dollars and Euros, and I can only find one or the other.



posted on Sep, 22 2008 @ 02:41 PM
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reply to post by 38181
 


Do you own stock in oil by any chance?



posted on Sep, 22 2008 @ 02:46 PM
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Here we go again. If oil goes over the previous all time high, the economy is done.



posted on Sep, 22 2008 @ 02:51 PM
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Yeah the price of gas in europe is pretty stable
...... at 1,5 a liter that's 7,50 euro a gallon.

But they will probably make it more expensive tomorrow not that the gas companies have to pay anymore the euro gained 6 cents today ...




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