Crude oil hits $99.29

In a stunning overnight reversal, NYMEX crude oil went from consolidation around the $94-95 level to a new record high of $99.29 per barrel. That puts us within stone-throwing distance of $100 oil.

bloomberg.com :

Crude oil rose above $99 a barrel for the first time in New York as a weakening U.S. dollar increased demand for commodities. Crude oil for January delivery climbed as much as $1.26, or 1.3 percent, to a record $99.29 a barrel in after-hours electronic trading on the New York Mercantile Exchange.

See also :

1. Crude oil hits $98.03 (7 Nov 2007)
2. "It's going crazy" ($93.80) (29 Oct 2007)
3. Another day, another record ($92.79) (29 Oct 2007)
4. Oil rises to record $91.10 (26 Oct 2007)
5. Crude oil reaches record $90.02 after dollar drops against euro (19 Oct 2007)

(2007-11-21 09:53:21 SGT) [Energy] Permalink

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