Crude oil contract hits new intraday all-time high

[Roland99]

Source: MarketWatch

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CRUDE FUTURES TOP $87 IN ELECTRONIC ACTION, TAP INTRADAY, ALL-TIME HIGH

LONDON (MarketWatch) -- The November-dated light sweet crude contract moved over the $87 a-barrel mark on Tuesday, setting a fresh intraday all-time high. The contract was last up $1.01 at $87.14 a barrel in electronic trading, breaking the previous all-time intraday high of $86.79. The contract has recently found support from risks to production in the Middle East as well as worries about declining crude inventories in the U.S.

Read more: http://www.marketwatch.com/News/Story/Story.aspx?guid=%7BF249FE6C%2DF74F%2D4F53%2D9E20%2D4C2DCC96C63F%7D

[Roland99]

1. NYMEX Light Sweet Crude Oil Futures hit $87.80/bbl.

[Eugene]

2. Oil sprints towards $88 setting new record high

Source: Reuters

Oil sprints towards $88 setting new record high
Tue Oct 16, 2007 6:39am EDT

By Janet McBride

LONDON (Reuters) - Oil thundered towards $88 a barrel
on Tuesday, hitting a new record and extending a rally
that has added eight dollars in a week on tight supplies,
strong demand and tension in northern Iraq.

Oil is closing in on the inflation-adjusted high of $90.46
seen in 1980, the year after the Iranian revolution
and at the start of the Iran-Iraq war. Prices this year
have averaged $67.

At 6:29 a.m. EDT, U.S. crude was up $1.31 at $87.44,
off a high of $87.97. London Brent was up $1.06 at
$83.81.

Oil has set a series of records over the past three days.

-snip-

Read more: http://www.reuters.com/article/hotStocksNews/idUSSP10407020071016

[Javaman]

3. and those neigh sayers who said oil wouldn't reach $100 bucks until next year...

just what where they thinking?

:cry:

boiling the frog one american at a time.

[Lone_Star_Dem]

4. It just broke $88

I think they've turned the flame up under that pot.

This frog is feeling the heat.