Oil prices hit new all-time highs

[dawgman]

Light crude settles at $45.50, a new all-time high, on concerns that Najaf fight may spark sabotage.
August 12, 2004: 5:10 PM EDT

NEW YORK (CNN/Money) - Oil prices ended at fresh record highs on Thursday as U.S.-led forces sought to crush a rebellion in the holy Iraqi city of Najaf, a move that Shi'ite Iraqi militia have warned could trigger fresh attacks on oil infrastructure.

Light crude for September delivery settled 70 cents higher at $45.50 a barrel on the New York Mercantile Exchange, after earlier touching an all-time record of $45.75 a barrel. The closing price stands well above the previous record high of $45.04 struck Tuesday.

In London, October Brent crude rose 69 cents to close $41.55, after hitting a new peak of $41.80 a barrel earlier in the session.
Iraq's oil exports have run at half normal levels for the last four days as an uprising by an anti-U.S. cleric threatens infrastructure in southern production and export centers.

http://money.cnn.com/2004/08/12/markets/oil/index.htm?cnn=yes

[NMDemDist2]

1. i keep waiting for gas to go up, but it actually went down a cent today

:shrug:

[HysteryDiagnosis]

2. My gas break.....

keeps going in my tax tank. At least I don't have to wonder what I will spend it on..... :)

[rabbit2484]

3. I've been wondering about that

It usually seems that gas stations raise prices the hour oil prices go up, but lower them a week after prices go down. But oddly they have been steady the past couple of weeks. Knock! Knock!

[newyawker99]

9. Hi rabbit2484!!

Welcome to DU!! :toast:

[Massacure]

6. These crude oil prices are for september.

So you won't see a raise in gas prices until they start refining the stuff.

[fearnobush]

4. Gasoline inventories are quite high - lots of surplus due to cool

summer temps and, extra $audi oil and maximum refinery production. The oil barral future's price is based on fear and price gouging and a GOP attack plan to get their pork filled, enron friendly energy bill passed. Plus the GOP Rove and Co. believe they can convince the American Sheeple that high gas prices, slow economy is all the Dems fault, namely, Kerry Edwards for fighting that Energy Bill that would have likely worsened our current situation if it had passed.

[rabbit2484]

5. Don't forget

The market has been dropping because people Kerry and Edwards' numbers are climbing, and when elected they will kill the economy. Right?

[dawgman]

8. From the reports I have read Saudi's are pumping within 5% of their

capacity and what they are getting is 50% water.

[bpilgrim]

7. hmmm... seems to be a trend

i'm sure it's nothing to worry about though... :scared:

peace