Crude oil prices set record high 102.08 dollars per barrel

[jpak]

http://afp.google.com/article/ALeqM5jtNR3ETeEATuZURc5POetodAweMA

LONDON (AFP) — Oil prices rocketed Wednesday to a record high above 102 dollars, with speculative trade energised by the sliding US dollar and jitters before OPEC's crude production meeting next week, analysts said.

New York's main contract, light sweet crude for delivery in April, touched an historic 102.08 dollars per barrel in electronic deals.
Brent North Sea crude for April delivery struck an all-time peak at 100.53 dollars.

"Oil futures made new record highs (on Wednesday) as the market continues to benefit from the weakening dollar, however, the market has retreated since making fresh highs amid profit taking," said Sucden analyst Nimit Khamar.

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[Just-plain-Kathy]

1. I remeber some talking head saying that if oil ever hit $55 a barrel..

...we'd be in big trouble. ...What are we in for?

[jpak]

2. I remember getting flamed in GD for suggesting oil would break $50/barrel a couple years ago

:rofl:

[Ordr]

3. .

The capitalist in me wishes the moralist in me would stop preventing him from investing in an oil company.

[BigDaddy44]

4. I invested in oil a few years back

I bought one barrel at $50 (I keep it in my basement). I'm waiting till oil gets to $120 to sell. Then my wife and I are going to enjoy a nice dinner on the profits.