Crude futures prices tap $75 for first time ever in NY

[UpInArms]

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7BC2EB9E43%2DDCA1%2D4A84%2DA22C%2D7CCC859F6B3C%7D&dist=newsfinder&symbol=&siteid=mktw

SAN FRANCISCO (MarketWatch) -- Crude-oil futures climbed to a high of $75 per barrel Friday for the first time ever for a front-month contract on concerns about tensions surrounding Iran's nuclear activities, violence in Nigeria, and tight U.S. supplies of unleaded gasoline. June crude was last up $1.26, or 1.7%, at $74.95 per barrel. "We often see this sort of short covering in a record-setting bull market ahead of a weekend, since nobody is sure where we may be Monday," said trader Kevin Kerr, who is also editor of MarketWatch's Global Resources Trader.

...very short blurb...

:hide:

[Zynx]

1. Oh yay! I can bend over and take it up the butt even worse than in Sept.

[Speck Tater]

2. Market is up means economy is strong. Right?

I guess that means the economy will be booming when oil hits $100, and white hot fantastic when it hits $200. Wow! That's good news. ... NOT.

The folks who keep telling us how strong the economy is need to figure out that the economy consists of more than just profits for the investor class.

[IKScott]

3. May go higher

If we continue to aggrivate Iran it might go up even higher

[NickB79]

4. Wow, that hit sooner than I thought it would

My previous estimate was $3.50/gallon this summer.

I am now revising that to $4/gallon.

[UpInArms]

6. Wholesale Unleaded Gasoline @ $2.245 gal

2:19 PM ET 4/21/06 MAY UNLEADED GAS UP 1.4% AT $2.245/GAL AFTER A CONTRACT HIGH

[bluedog]

5. Air Force 1 should be "Dry docked"

until this crisis is cleared up..there is no f'ing reason for bush to run all over the country.promoting his bullshit lies.....when the American people are having to choose between food and gas.........many people are making a run on pawn shops.
when is this madness going to stop?
When will bush stand up to his billionaire friends and just say enough i9s enough.
Congress should reinstate all taxes and repeal all breaks they gave to the OIL industry........

[cliss]

7. Today's agenda -

Item #1: go fill up the tank.

Item #2: ask some people if you can hoard gas. I hate to think of my garage going up in flames this summer, but $100.00/barrel......how much is that per gallon?

Item #3: buy a bus pass. Skip that trip to the store across town. Combine trips to only one shopping excursion.

Item #4: Laugh at the Hummer that just drove by.

[RamboLiberal]

8. New day, new high: Oil tops $75 a barrel

http://www.msnbc.msn.com/id/12400801/

Crude-oil prices broke through $75 a barrel to hit a new record Friday, fueled by concerns about Iran’s nuclear ambitions and tight U.S. gasoline supplies.

Prices at the pump also kept rising, with the average price of a gallon of unleaded regular gasoline at $2.855, up 3 cents from a day earlier and more than 60 cents higher than a year ago, according to AAA’s daily fuel gauge report.

Crude prices, which are more than 40 percent higher than a year ago, have risen 8.4 percent from Thursday’s closing price — the biggest weeklong jump since the week ended June 17, 2005, when crude futures rose 9 percent.

Analysts say oil prices are likely to climb even higher in the weeks ahead as worries grow about how international pressure on Iran, OPEC’s No. 2 oil producer, will affect its crude output. Rebel disruptions of oil production in Nigeria, the fifth-biggest source of U.S. oil imports, also pose a risk to supply.

[Tight_rope]

9. I see $4 a gallon coming sometime in the next 2 weeks at this rate!

[RamboLiberal]

10. And I see Chimpy and the Repukes ratings heading to 20's

I could live with one summer of this craziness if it would sweep the damn Repukes out of office.

[AndyA]

12. Fox reported Bush at 33% - so that tells me he's already in the 20s! n/m

[Bigmack]

18. So would I, but...

This is for keeps. No more cheap oil. Peak oil. The Dems can't change anything. At least it blew up on Dimson & the Repubs watch.

[BlueEyedSon]

11. it's here, i guess you missed that post (with a picture, from CA)

[sarcasmo]

13. Kick and Nom, My days of cab driving are over

Once the gas price reaches $4.00 a gallon I will have to go look for other work. $40.00 to top of the cab at the end of each twelve hour shift. Thanks a million to the Decider and his cronies for the pounding of the war drums.
Wait a minute, Faux news will tell me it is Clintons fault for not getting Osama.

[indeman]

14. This is great news for Bush and his friends.

Bush no longer cares about his approval rating. The massive money-making machine that the Bush group engineered during the past few years is now producing its desired results - HUGE profits for the oil and military contracting industries. Before last election, approval ratings were important only to the extent that they assured Bush would stay in office. But ultimately, these guys care more about multiplying their wealth than whether the American people (who are generally despised by the Bush snobs anyway) like the way Bush is performing his job.

So for the next couple of years, expect these Bush-friendly oil and military contracting industries to ramp up their looting of American taxpayers while the opportunity is still there. They got to get while the gettin's good.

Interesting fact. In 1998, under Clinton, oil dropped to $10 per barrel. Today, Oil is at a record high of $75 per barrel.

[brentspeak]

15. This calls for a special reposting of the $400 Million Pig (er. Man)

Outgoing Exxon CEO Lee Raymond:

[jseankil]

16. Freepers answer: ANWR

Freepers are complete idiots, they think ANWR is the solution. Clueless f*cks.

[ClintonTyree]

17. ANWR is the proverbial drop in the bucket.....

really, the amount of oil we'd get from ANWR would sustain America's consumption for less than six months. :eyes: That's their answer for everything energy related. You're correct, they are clueless fucks.

[CatholicEdHead]

20. Most would not be sent here anyways

it is not easy to refine it into gas. It is better for lower grade industrial oils, besides most would also be EXPORTED to Japan and other places in the far east.

[0007]

21. That even that long!

[Rose Siding]

19. Bush's numbers will be on the way to the teens

And Exxon, soon having to spend half their budgets on PR, may consider cutting back on the exec perks........KIDDING.

[gristy]

22. As I rode past a couple gas stations on my bike ride home from work today,

I noticed the price had gone up about 15 cents from this morning. Premium was $3.37, I think.