And, yes, I DO take it personally: Just when I think there's nothing worth posting, I read about $120 a barrel oil

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And, yes, I DO take it personally

Monday, May 05, 2008

Just when I think there's nothing worth posting, I read about $120 a barrel oil

holy shit...

Oil futures have surpassed the once unthinkable price of $120 a barrel.

Oil reached its latest milestone on a mix of threats to overseas crude oil supplies. A threat by Kurdish rebels in Iraq to attack American interests has investors concerned. And an attack on an oil facility in Nigeria cut oil supplies.

Meanwhile, defiant comments by Iranian leaders about the country's nuclear program raised worries about broader conflict in the Middle East.

Light, sweet crude for May delivery rose to a trading record of $120.21 a barrel on the New York Mercantile Exchange.

The falling dollar is also sending crude prices higher.

let me repeat that... holy shit...!

Labels: Iran, Iraq, Kurds, Middle East, New York Mercantile Exchange, Nigeria, oil, oil prices