Crude oil surges to record $97.45 a barrel in after hours

Source: CBSMarketwatch

HONG KONG (MarketWatch) -- Crude oil for December delivery climbed $0.75 to a record $97.45 a barrel in after hours trading Wednesday, adding to strong gains in the previous session that saw the energy contract into record territory Tuesday. During Tuesday's session the front-month crude oil contract closed at a record $96.70 a barrel and touched an intraday all-time high of $97.10, after forecasts showed U.S. crude inventories may fall for a third week and as the dollar fell to a new low against the euro.

Read more: http://www.marketwatch.com/news/story/crude-oil-surges-record-9745/story.aspx?guid=%7BFCC3ECCB%2D6711%2D43C7%2D9D10%2D8DCA2CD1A064%7D&dist=hplatest

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the dollar continues to drop

http://quotes.ino.com/chart/?s=NYBOT_DX&v=i

Last trade 75.984 Change -0.030 (-0.04%)

Settle Time 15:01 Open 75.999

Previous Close 76.452 High 76.020

Low 75.976 2007-11-06 20:42:22, 30 min delay

52wk High 85.73 52wk High Date 2006-11-07

52wk Low 76.22 52wk Low Date 2007-11-02

I'm not at all surprised.

$100 Oil & $ at 75, is just a matter of days away.

at around $830 an ounce.

http://www.kitco.com

Nah, there's no dollar crisis.:sarcasm:

My honest opinion is that the Chinese are beginning to dump their dollar reserves.

and has lost its grip entirely tonight:

Last trade 75.617 Change -0.397 (-0.52%)

Settle Time 15:01 Open 75.999

Previous Close 76.452 High 76.020

Low 75.503 2007-11-06 21:31:56, 30 min delay

We're in uncharted territory now and who knows how low it will go now. I think I'll be buying more gold this coming weekend. It is becoming wealth preservation at this point.

I bet we will.

if this keeps up.

The only way to fix this shit is to throw BushCo over the side.

"Light, sweet crude for December delivery added $1.28 to $97.98 a barrel by late afternoon in Singapore, after rising as high as $98.17 a barrel -- an all-time futures trading record -- in Asian electronic trading on the New York Mercantile Exchange."
http://biz.yahoo.com/ap/071107/oil_prices.html

shit, they are on top of it!

He predicted the surge in gold prices too -- years ago-- as soon as it was announced that Poppy Bush had become a director of Barrick Gold.

a 'cold winter'...I ponder.

:wow: 75.274 :wow: