Oil strikes another new high

[struggle4progress]

Last Updated Mon, 11 Oct 2004 18:10:21 EDT

NEW YORK - Oil prices continued their rise on Monday, as a general strike shut down Nigeria and a Moscow court upheld a billion dollar back tax demand on Yukos, Russia's largest oil producer. <snip>

Benchmark US November crude futures hit another new record of $53.80 a barrel in New York, before closing at $53.64; while Brent crude contracts for November delivery rose past $50 for the first time ever, closing up 32 cents at $50.03 in London.

Canadian markets were closed for Thanksgiving but the U.S. exchanges were open for business. In the stock markets, the Dow Jones Industrial Average index rose 26.77 points to close at 10,081.97 points, while the NASDAQ Composite Index was up 9.11 to 1,929.08 points. <snip>

http://www.cbc.ca/story/business/national/2004/10/11/oil041011.html

[bluestateguy]

1. I feel bad for some Americans

But the selfish, white suburbanities who wanted this war in Iraq to keep gas cheap for their gas-guzzling, unsafe SUV's are getting exactly what they deserve. I rather enjoy watching their small tax cuts disappear down their gas tanks.

[Edwardsgroupie]

2. Ah, the consequences of a middle eastern war