As if we needed to break the record as far as oil prices, but it happened today, light, sweet crude for November delivery rose $1.48 to settle at $87.61 a barrel on the New York Mercantile Exchange. Oil prices reached a new record trading high of $88.20 earlier in the session and eclipsed the record close of $86.13 a barrel set on Monday.
To blame for the price shifting is concern over what's happening in the Middle East in Turkey and Kurdistan, which realistically it doesn't take much for trading to make the price go up. Even though most experts agree the price of oil is being artificially inflated by the very traders who "react" to events in the Middle East.
1 comment:
Lisa,
What ever come of all of that talk of coal gasification?
It was touted as being "affordable" and practical after the price of gasoline shot past ~$ 2.359 per gallon.
When is the last time gasoline was near or below $ 2,359 per gallon lately?
We should be awash in clean burning, low-emission synthetic gasoline by now. . .
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