Crude Oil Prices Surge Past $55 Per Barrel

[DuctapeFatwa]

Crude oil prices surged past an unprecedented $55 per barrel Monday amid ongoing uncertainty over production, high demand and tight global supplies ahead of the Northern Hemisphere winter.


Crude for November delivery on the New York Mercantile Exchange hit $55.33 per barrel in pre-opening electronic trading, up 40 cents from its Friday settlement price. By 1130GMT the contract had slipped back to $54.81, down 12 cents. The November contract expires Wednesday.


Heating oil also hit a new peak Monday, while Brent crude for December delivery hit a high of $50.32 on London's International Petroleum Exchange shortly after the trading session opened. By 1130GMT, Brent also had pulled back, down 4 cents from Friday's close to $49.89.

http://news.yahoo.com/news?tmpl=story&u=/ap/20041018/ap_on_bi_ge/oil_prices_21

[Moderator]

1. Duplicate

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=912505



To avoid duplicates:
Read the Latest Breaking News forum first before posting. Look for high count threads for obvious stories that have a lot of interest and that have been posted previously.
Do a search of a just a few keywords. Running just the title sometimes does not bring up results.
If you don't have the search option because you don't donate, consider donating, or look on the right column of the latest page. Scan the column for posts made in the last day.