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Oil hits $97 on bombs, demand prediction »

Posted by: STONERS 2 years, 1 month ago

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Oil futures jumped to a new record of $97 a barrel Tuesday after bombings in Afghanistan and an attack on a Yemeni oil pipeline compounded the supply concerns that have driven crude prices higher in recent weeks.

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STONERS

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Comments: 69

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STONERS
Nov. 6, 2007, 11:40 a.m.
"Oil was already up before news of the blasts in northern Afghanistan that killed 64 people and the attack in Yemen. Severe weather forecasts for the North Sea, expectations that domestic crude supplies fell last week and the weak dollar all contributed to the latest move upward."
"While Afghanistan doesn't produce much oil, traders watch for the possibility that any escalation in the conflict there between U.S. armed forces and Islamic militants could spill over into other countries, disrupting oil supplies out of the Middle East."
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tehranchik
Nov. 6, 2007, 12:09 p.m.
One hundred a barrel was the prediction. Does it seem it might go higher?
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getreal1
Nov. 6, 2007, 12:27 p.m.
Unless I'm losing it. I think I just heard on CNN that the reasons that Egypt and other middle eastern countries are seeking nuclear Energy is that they think they will be out of oil in about ten years or so. That's what it sounded like to me.
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dandt1612
Nov. 6, 2007, 1 p.m.
I believe the purse and wallet strings will be tightened for quite a few folks because of this.
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NelsonR
Nov. 6, 2007, 4:40 p.m.
Grease up your bicycle and dust the cobwebs off. Purchase rear view mirrors so as our upper crust approaches you with unlimited gas just maybe you will not have tire marks on your head. Bush will be one of those retirees speeding of course in his gas guzzler. You will hear his laugh while zooming past.
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JenMurdock
Nov. 6, 2007, 6:28 p.m.
I think oil companies make up these stories, after all I can't imagine how much oil is even manufactured there. Any excuse to raise prices....
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nikkibabe
Nov. 6, 2007, 7:48 p.m.
The American meatheads better know why the cost of their gas at the pumps is out of control.
1. By invading Iraq, your idiot in WH effectively ended the supply of oil from that country.
2. The occupation of Iraq with 160000 troops with army and Airforce is consuming all the oil that is available in Iraq. Whatever is left is pumped to Afghanistan to fight Taliban and Al Qaeda who are really commanding from Pakistan!!!!!!!!
3. Each monster Lincoln Navigator, Ford Expedition, Ford Excursion, Chevy Denali is consuming gas that can feed almost 20 cars!!!!
4. With Bush threatening to invade Iran which will for all practical purposes shut down Gulf of Hormutz and any oil that can come out of Middle East.
Happy driving Yankees!!!!!!!!!!!!!!!
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ACTeeple
Nov. 6, 2007, 9:35 p.m.
What scares me is how much worse it is going to get worse. The gas station on my corner (in San Diego) is already charging $3.39 - for REGULAR! As a sign of what to expect, there is a gas station in Bridgeport, CA that is already charging $3.99 (again, for regular)! I need to figure out how to get past the freeways and bike to work.
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klr60
Nov. 6, 2007, 10:03 p.m.
Stoners, another good one. Gas is $3.15 here in WV. There is something definitely wrong w/this picture. Need I say more?
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klr60
Nov. 6, 2007, 10:09 p.m.
Why not clean coal, as an alternative?
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klr60
Nov. 6, 2007, 10:30 p.m.
btw-where do you get your electric from?
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klr60
Nov. 6, 2007, 11:06 p.m.
no ansers on where electric comes from yet-nuclear?-wind? coal?
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klr60
Nov. 6, 2007, 11:12 p.m.
waiting on answers
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klr60
Nov. 6, 2007, 11:24 p.m.
bet, most of you-your power to run your PC & put me dow-is coming from coal-let me know-very interested
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jmopinion
Nov. 7, 2007, 8:39 a.m.
A lot of smart people are saying natural gas is the answer to our energy problems. Even natural gas autos are talked about. Natural gas trades at a big discount to oil right now.
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Cityslicker
Nov. 7, 2007, 8:53 a.m.
Isn't this a duplicate story ? Is on the AOL start page .
Anyways THANKS AL GORE and all the Wall Street Commodity Traders , just what people need going into the biggest Holiday season .
Enronish trading , remember how Enron did its electricity , seems oil is trading much the same way now .
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Justice4All
Nov. 7, 2007, 10:20 a.m.
"I'd put my money on the sun and solar energy. What a source of power! I hope we don't have to wait until oil and coal run out before we tackle that."
The year? 1931. The speaker? Thomas Edison.
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pongping
Nov. 7, 2007, 10:36 a.m.
So let me see if I have this right. Problems in Afganistan and Yemen, right? Our biggest suppliers are Canada, Mexico, Nigeria and Saudi Arabia, right? Are operations for suppliers in those last four countries affected?
I am in the wrong business. Futures trading looks pretty good. Just find a crisis in the next location, paste it all over the internet and voila, you've made a million bucks.