Oil price rises to new record above $92 in New York

[Rmf3175]

NEW YORK, Oct. 26 (AP) - (Kyodo)—The benchmark crude oil futures price rose above $92 a barrel for the first time ever in New York early Friday morning as rising tensions in the Middle East were expected to disrupt crude oil supply...........

http://www.breitbart.com/article.php?id=D8SGPN100&show_article=1&catnum=2

:popcornbag

[George]

NEW YORK, Oct. 26 (AP) - (Kyodo)—The benchmark crude oil futures price rose above $92 a barrel for the first time ever in New York early Friday morning as rising tensions in the Middle East were expected to disrupt crude oil supply...........

http://www.breitbart.com/article.php?id=D8SGPN100&show_article=1&catnum=2

:popcornbag

Thanks for the update ... :thumb
WOW. Things happening so fast :shocked

[medbiller777]

I know they were saying $100 by the end of the year, but now I think it will probably hit $100 by Thanksgiving. We will probably be looking at $4.00/gal by early next year. I won't even be able to afford to leave my house! Anybody want to buy a Suburban with a 50-gal gas tank????

[The Learner]

Things are going to get really bad really fast. Most of the workers in this country are in the service industry, and I just do not see how people will pay for services when they are paying $5.00 a gallon for gas.

[NewBeliever]

I know they were saying $100 by the end of the year, but now I think it will probably hit $100 by Thanksgiving. We will probably be looking at $4.00/gal by early next year. I won't even be able to afford to leave my house! Anybody want to buy a Suburban with a 50-gal gas tank????

I know the feeling. I had a Windstar and had to get something smaller. I go to school, which is 40 miles one way commute!!! Maybe I need something even smaller than my pt cruiser. Like maybe a moped, lol.

[cbressler1976]

:( I don't even like to think about it....

[Bookmaker]

Anyone shopping for new cars should consider the new clean diesel cars coming out. I've been singing the praises of diesel cars here for several years now.

The new VW Jetta BlueTec TDI due out this winter will get 50 mpg or better. So will the new Honda Accord iCTDi when it comes out next fall. Honda is also coming out with a CRV iCTDi next year that should get around 40 mpg. Audi is coming out with an A4 TDI in 2008, along with a Q7 TDI. Nissan is supposed to have a diesel Maxima for 2010. Right now you can buy a Jeep Grand Cherokee CRD with a Mercedes-built diesel.

These are diesel cars that meet 2010 emissions regulations. Diesels get 25%-30% better mileage than gas cars. They require half the oil changes and never need a tuneup. They can run biodiesel with no modifications. The new diesels are quiet, with no smoke, no smell, and they're powerful.

We have three diesel vehicles (Passat, New Beetle, and Ram truck). We're never going back to gasoline.

[George]

Dollar and oil hit new records

By Michael Mackenzie in New York
Published: October 29 2007 20:20 | Last updated: October 30 2007 01:12

Oil hit a new record high of $93.80 and the dollar struck a new low yesterday as investors showed their growing certainty that the US Federal Reserve will cut interest rates on Wednesday.

The same conviction also saw gold approach $800 a troy ounce – its highest price for 28 years – while equities made gains. The move into gold reflects how investors fear rising inflation from the twin forces of higher oil prices and a weaker dollar.

http://www.ft.com/cms/s/0/01d0752a-8657-11dc-b00e-0000779fd2ac.html

[The Learner]

This is going to be interesting to see how much this affects the Christmas shopping season.

[green-agenda]

Just went past $94!!

Oil Rises to Record $94 After U.S. Supplies Drop to 2-Year Low

By Mark Shenk

Oct. 31 (Bloomberg) -- Crude oil rose to a record $94 a barrel after an Energy Department report showed that U.S. inventories fell to a two-year low. Oil has advanced 14 percent this month.

Stockpiles dropped 3.89 million barrels to 312.7 million barrels last week, the department said. It was the lowest since October 2005. A 400,000 barrel gain was expected, according to a Bloomberg News survey. Supplies at Cushing, Oklahoma, the delivery point for New York futures, fell 17 percent.
http://quote.bloomberg.com/apps/news?pid=20601012&sid=ar7roEC21Bf4&refer=commodities