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Oil jumps to $121 over tensions with Russia

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spanone Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-21-08 11:28 AM
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Oil jumps to $121 over tensions with Russia
i knew they'd find a way to increase the price....


Oil prices shot up $6 a barrel Thursday, rising to the highest level in two weeks as escalating tensions with Russia stoked fears of a disruption of energy shipments to Western countries.

Crude's rally mimicked the wild price swings seen last month and have at least temporarily halted oil's slide back toward $100 a barrel. A weaker U.S. dollar and worries about tightening output from OPEC countries are also supporting prices.

Tensions with Russia about a deal between Washington and Poland to install a missile defense system in Eastern Europe — seen as a threat by Moscow — and the continued presence of Russia in Georgia contributed greatly to the bullish mood.

http://www.msnbc.msn.com/id/12400801/
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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-21-08 11:29 AM
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1. And by the time I drive home this evening the price of gas will jump $.30
I knew I should have filled up at $3.51 this morning.
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