Crude closes above $105 for first time

[swag]

Source: MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures rose for a second day Thursday and closed above $105 a barrel for the first time, after hitting a record high of $105.97 earlier in the session. Crude's new record was brought by a new low of the value of the dollar against the euro, an unexpected drop in U.S. inventories, and the escalating tensions between Colombia and Ecuador.

Read more: http://www.marketwatch.com/news/story/crude-oil-futures-close-atop-105/story.aspx?guid=%7BEDDD5A6A%2D40EC%2D4F07%2DA843%2DD4F8E8482A67%7D&siteid=bnb

[zonmoy]

1. the cracks in the walls of the house of the united states

are beginning to get real big.

[Eurobabe]

2. Euro hit an all time high today too, 1.5397, before dropping back to 1.537

[swag]

3. That'll cushion the blow to my international stock portfolio,

though it won't help me much at the wine shop.

[Eurobabe]

4. Yeah and it will suck for Americans traveling to Europe this summer.

You all have my sympathies. :(

[swag]

5. I'm not going abroad again until we're rid of this shameful administration.

[Eurobabe]

6. It's okay over here, people know it is Bushler and don't blame the people

HOWEVER, they cannot for the life of themselves understand how so many 'Murikans voted the rhinestone cowboy back into office.

[roamer65]

12. I'm with them on that.

Why Americans allowed this twit back into office...who knows...

[cliss]

7. Right now, 2 people are fainting

from happiness. They are:

1) Hugo Chavez

2) Ahmadinejad

They have said for a long time that oil needs to go to $100 / barrel. Their wish has been granted.

Just imagine, when oil is that expensive, how much money is transferred out of this country to OPEC and other nations. We are hemorrhaging money, at a time when the US is broke.

I believe something like $ 2 billion dollars goes to Iran....

....every day. Hard to believe.

[robertpaulsen]

8. Those weren't the first two people that came to my mind.

I was thinking of the squatters in the White House running the OILigarchy.

[FarCenter]

9. In Order for OPEC to Get a Reasonable Price in Euros, the Price in Dollars Has to Be High

A few years ago, a Euro was about $0.80. Now it is over $1.50.

The price of oil in terms of a market-weighted basket of currencies has gone up some.

In terms of the now worthless dollar, it had gone up a lot.

[Arctic Dave]

10. You forgot the most important one.

OBL had wanted to raise the price of oil to $100.00 bbl for quite some time. It makes you wonder if there isn't a single thing that * hasn't given him. You might even say, they work well together. Hmmmmmm?

[triguy46]

11. Bring it on. Maybe we can expect a slow down on our wasteful consumerism...

and gasaholic addiction.

[bhikkhu]

13. Food and transportation of food are the first big hits.

For the poor, these are big hits. For poor countries, these are famine-inducing hits.

I agree with the wasteful consumerism of wealthy nations, but unfortunately a lot of people starve to death elsewhere before that changes. "Bring it on" might not be the best wish.