HEADLINE: Oil futures soar past $96/barrel

[Bluebear]

NEW YORK (AP) -- Oil futures soared late Wednesday to a new record above $96 a barrel after the government reported another unexpected drop in crude oil inventories and the Federal Reserve cut interest rates by a quarter point.

Interest rate cuts generally support oil prices because they tend to send the dollar downward; the dollar is already at a record low against the euro. Oil futures have been driven to record levels in recent months partly because they offer a hedge against a weak dollar.

http://biz.yahoo.com/ap/071031/oil_prices.html

[BootinUp]

1. Mission Nearly Accomplished!

Dumya: gotta get it to 100 Dicky boy,

Dicky: yeah hehe hehe.

[no_hypocrisy]

5. One hundred dollars ($100) is treated like a magic number.

Why is it assumed that the price oil will "stop" at $100 and won't continue to increase beyond that mark?

[dweller]

2. wheeeeeee ........

suck it up SUVs.

dp

[Amonester]

3. The big woo-woo is just around the corner...

:scared:

[magellan]

4. Yayy! And the pound is at 2.0777

So...so...we can buy even less gas with more dollars!

I'm so happy I could cry.

[Flatline]

6. Uh oh I think.....I think I'm gonna.......

I think I'm gonna here it goes ............... :puke: :puke: :puke: :puke: :puke: