Thursday, June 26, 2008

Stil no end in site for oils rise.

Crude Oil Rises as Dollar Drops, Libya Warns of Production Cut

June 26 (Bloomberg) -- Crude oil jumped above $140 a barrel to a record as Libya threatened to cut production, OPEC's president said prices may reach $170 by the summer and the dollar weakened. Libya may curb output because of a U.S. law that allows terror victims to seize assets of foreign governments as compensation. OPEC President Chakib Khelil said oil may surge on a European interest rate rise, France 24 reported. Oil, gold and copper climbed today as the dollar dropped because the Federal Reserve gave no signal of higher interest rates yesterday.

Posted by flintster1994 @ 07:30 PM (923 views)
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9 thoughts on “Stil no end in site for oils rise.

  • Gold $921 US (19:32pm)

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  • sold 2 rent 1 says:

    The final phase of this fifth night destruction has started

    Gold up $30
    S&P500 down 2.5pc
    Oil breaks $140

    Oil is an orchistrated bubble.

    When it bursts banks will need bailing out again, from taxpayers money.
    Anyone holding cash will be f**ked

    Last chance to buy gold.

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  • flintster1994 says:

    S2R1,
    Do you think gold could hit $1500 in a matter of days?

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  • sold 2 rent 1 says:

    This oil bubble has been fuelled with debt/money creation.
    When it bursts it will collapse hedge funds and the banks who lent them money.

    Massive money printing will be required to bail out the banks

    The eurozone countries have no “real” lender of last resort.
    What will happen here?

    Once the euro loses the safehaven status then gold will fly high.
    Gold stocks could do even better than gold as oil tumbles.

    1500 – a real possibility

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  • Any website recomendations on where to buy gold.

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  • When all this happens will somebody be able to say ‘this gold bubble has been fuelled with debt/money creation, when it bursts etc etc’?

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  • sold 2 rent 1 says:

    icarus ,

    Gold will be the bubble to end all bubbles and then be worthless as we no longer need money in global enlightenment in 2011

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  • sold 2 rent 1 says:

    motty,

    bullionvault.com

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  • s2r1 @7 – I see.

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