Monday, May 5, 2008

Just how high will the price of oil go in 2008?

Oil Rises to Record After Report Shows Service Industries Grew

Crude oil rose above $120 a barrel to a record in New York after a report showed that U.S. service industries expanded in April, signaling higher energy use. Crude oil for June delivery climbed $3.65, or 3.1 percent, to settle at $119.97 a barrel at 2:42 p.m. on the New York Mercantile Exchange. It was the highest closing price since trading began in 1983. Futures surged to an all-time intraday high of $120.36 a barrel today.

Posted by jack c @ 11:17 PM (431 views)
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One thought on “Just how high will the price of oil go in 2008?

  • Don’t worry though, the inflation rate won’t be affected at all by the resulting price rises at UK petrol pumps.

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