Oil prices hit record highs................

[ClintonTyree]

http://story.news.yahoo.com/news?tmpl=story&u=/afp/20050317/bs_afp/commoditiesenergyoil_050317123646&e=2


Oil prices hit new record highs: New York crude 57.23 dollars


LONDON (AFP) - World oil prices soared to fresh record high levels, with New York's main crude contract above 57 dollars per barrel for the first time, underpinned by robust global demand.


New York's main contract, light sweet crude for delivery in April, rose 77 cents to reach as high as 57.23 dollars per barrel in electronic deals before the start of formal pit trading. It stood at 57.15 dollars at about 1145 GMT


On the New York Mercantile Exchange, the April contract had hit a record closing price of 56.46 dollars a barrel on Wednesday.

Just as I predicted, all of that "increased output" by the Saudis will have little or no impact in the price of oil. I wonder how much the oil companies profits will soar THIS quarter? :eyes:

[Frederik]

1. There was a small notice

on BBC World about oil company profits being at an all-time high. They make so much money now that they don't know what to do with it all.