Oil sprints towards $88

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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.

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At 7:08 a.m., U.S. crude was up $1.33 at $87.46, off a high of $87.97. London Brent was up $1.22 at $83.97.

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

Investors have cited rising tensions between Turkey and Kurdish separatists in northern Iraq, sturdy world energy demand growth, tight inventories in consumer nations heading into winter and unprecedented weakness in the U.S. dollar.

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http://www.reuters.com/article/hotStocksNews/idUSSP10407020071016?pageNumber=1

Despite the fact that most of you here on DU just do not want to talk about the situation with oil there is no doubt that it will eventually effect all of you. When the price of oil begins to creep into the cost of fuels, I bet then you'll be talking about it.

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1. Just as I suspected and I said as much...

you don't want to face what you have done to this planet and you don't want to think about what your life without oil will be like. You are so caught up in the comforts of your life that you don't want to have to face the guilt that you have for ruining your children's and your grandchildren's future.

And before you send it right back at me, I know I'm part of the problem. That is why I know you so well when it comes to this issue.