Oil sets new record at $58.60

[dogday]

NEW YORK (Reuters) - Oil prices set a new record of $58.60 a barrel on Friday, after the United States and other Western nations shut consulates in oil-producing Nigeria following a terrorist threat.

Concerns about the ability of U.S. refiners to cope with strong U.S. demand, despite rising fuel costs, also helped propel prices above the record of $58.28 set in April.

U.S. crude hit the record near the end of Friday's trading session on the New York Mercantile Exchange.

In London, Brent crude also hit an all-time high of $57.95 a barrel on the International Petroleum Exchange, breaking the former record of $57.65 set in April.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/17/AR2005061700122_pf.html

[karlrschneider]

1. Will be $100/bbl within 3 years. I will bet 5 barrels against a cup of

coffee. And hope to lose (not really, because my livlihood comes from crude oil - the higher the better for ME ME ME) :eyes:

[TwentyFive]

2. Pres & VP - both former Oil Company CEOs - and - Oil more than doubles?

If people can't figure this out - we are really a nation of dumb bunnies. Just go look at the bonuses the oil company exectives are cutting for themselves this year.

The stupid christians are patting themselves on the back for stopping gays from getting married....meanwhile they are getting screwed by Bush's REAL friends every time they gas up.

[dogday]

3. Remember When Bush Said If You Vote For Kerry Gas Prices Will

Go Up? Well that SOB had it backwards as usual.

[Double T]

4. I'd Like To Thank Every Hummer, Escalade, Expedition, Yukon and...

Denali Owner For Helping ExxonMobil Screw the Hell Out Of Our Wallets and Bank Accounts. And While I'm At It, Thanks For Making The Planet Warmer Faster, We All Need To Experince A Little Hell!!!!

[Zen Democrat]

5. When Average Joe American can't take a road trip vacation this summer

because of price of gasoline has made such vacation unaffordable --- that will get the attention of the heartland Republicans with middle-class jobs.

[realFedUp]

6. You'd think a large country was buying and storing it away.....

but gosh, who thinks anymore?

[Cocoa]

7. some people are getting really really rich right now

hint: it's not us.