Thursday, October 25, 2007

Oil prices hit a new record

NEW YORK -- Oil futures jumped to a new record above $90 a barrel Thursday on news that OPEC production increases aren't coming as fast as expected and that the cartel won't announce new output quotas when it meets next month. Light, sweet crude for December delivery rose $2.74 to $89.84 a barrel on the New York Mercantile Exchange after rising as high as $90.10 earlier, a trading record just above the previous mark of $90.07. Source: abcnews.com


No comments:

Post a Comment

Your comments are valued greatly. Please adhere to the decorum on the "First time here?" page. Comments that are in violation of any of the rules will be deleted without notice.

3/11 Update - No Moderation

*Non-anonymous commenting is preferred to avoid mix-ups. Anonymous comments are, at the behest of management, more likely to be deleted than non-anonymous comments.