Monday October 29, 2007

Another day, another record ($92.79)

Another day, another record high in crude oil prices. $92.22 barely lasted one weekend. This morning, I got up, went to the office, and found myself sitting down to a new record : $92.79 per barrel Nymex crude oil delivery for Dec 2007.

This one looks dollar-driven. The news outlets are talking about the USD falling to yet another record low against the euro. At the moment of writing :

CAD/USD = 1.041667 (1.03 has been broken!)
EUR/USD = 1.4407 (1.43 has been broken!)
USD/SGD = 1.4531 (bye-bye 1.46)
SGD/MYR = 2.297297 (rising in tandem?)

The US dollar index, USDX, is at 76.894, having fallen below 77.

Compare this to the figures blogged earlier on 18 Sep 2007, barely one and a half months ago :

1. USD/SGD=1.5068 (how far the mighty have fallen)
2. SGD/MYR=2.310519
3. USD/CAD=1.0094 (notice how I've swapped around to CAD/USD nowadays!)
4. EUR/USD=1.3979 (compare & contrast!)

And the U.S. dollar index (was) : USDX=79.169

- Update : Scratch that last. The new record is :

$93.18
$93.19
$93.20

See also :

1. Oil rises to record $91.10 (26 Oct 2007)
2. Crude oil reaches record $90.02 after dollar drops against euro (19 Oct 2007)
3. Oil surges to record $88.20 (17 Oct 2007)
4. Oil futures hit new record above $86 (16 Oct 2007)
5. US dollar index falls below 80

(2007-10-29 10:13:26 SGT) [Energy] Permalink

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