After hitting $126, is $150 far behind?

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Friday, May 16, 2008 9:25:32 PM

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After hitting $126, is $150 far behind? Saturday, May 10, 2008
CNNMoney.com -- Oil leaped into uncharted territory Friday, soaring past the $126-a-barrel mark for the first time, and leaving analysts and investors wondering how high the price will go. U.S. light crude futures for June delivery hit an intraday record $126.20 in electronic trading, and set a settlement mark at $125.96. That was $2.27 above Thursday's prior record close of $123.69 a barrel. Continued concerns about supply, particularly from Venezuela in the face of reports that President Hugo Chavez's support of Colombian rebels could threaten the flow of oil to the United States.
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JT Moderator	Message Posted: 5/10/2008 7:16:47 AM	Ignore JT Report Abuse
	Saturday, May 10, 2008 CNNMoney.com -- Oil leaped into uncharted territory Friday, soaring past the $126-a-barrel mark for the first time, and leaving analysts and investors wondering how high the price will go. U.S. light crude futures for June delivery hit an intraday record $126.20 in electronic trading, and set a settlement mark at $125.96. That was $2.27 above Thursday's prior record close of $123.69 a barrel. Continued concerns about supply, particularly from Venezuela in the face of reports that President Hugo Chavez's support of Colombian rebels could threaten the flow of oil to the United States. Visit CNNMoney.com for full article

REPLIES (newest first)		Page: First Prev [ 1 ] 2 3 4 Next Last

zuke519 Rookie Author Georgia Posts:41 Points:9,145 Joined:Apr 2008	Message Posted: 5/12/2008 12:54:58 PM	Ignore zuke519 Report Abuse
	Nope - $150 is definitely just around the corner.
POLELANE All-Star Author Ohio Posts:580 Points:52,200 Joined:Mar 2008	Message Posted: 5/12/2008 11:16:39 AM	Ignore POLELANE Report Abuse
	wish i knew
EasyMPG Champion Author Ontario Posts:8,603 Points:1,080,530 Joined:Jun 2004	Message Posted: 5/12/2008 10:25:06 AM	Ignore EasyMPG Report Abuse
	Well the inflationary backlash against the US greenback is not done yet. The greenback's supply has increased 1500% since the 1970's, so there is still plenty of room for the greenback to continue to fall in value.
Gas_Buzzer Champion Author South Carolina Posts:5,414 Points:921,415 Joined:Sep 2005	Message Posted: 5/12/2008 10:12:23 AM	Ignore Gas_Buzzer Report Abuse
	Most likely.
uksqueeze All-Star Author San Jose Posts:529 Points:652,425 Joined:May 2004	Message Posted: 5/12/2008 10:01:26 AM	Ignore uksqueeze Report Abuse
	Is $100 far behind?
jvt666 All-Star Author California Posts:719 Points:274,635 Joined:Apr 2006	Message Posted: 5/12/2008 9:52:46 AM	Ignore jvt666 Report Abuse
	It's always some reason...
AlaRedNeck Sophomore Author Kansas Posts:190 Points:24,735 Joined:Apr 2008	Message Posted: 5/12/2008 9:46:10 AM	Ignore AlaRedNeck Report Abuse
	$150 or MORE by mid summer...
nyacoub1 Sophomore Author Chicago Posts:189 Points:24,580 Joined:May 2007	Message Posted: 5/12/2008 9:43:47 AM	Ignore nyacoub1 Report Abuse
	$150 by middle of summer.
bowler48226 Veteran Author Detroit Posts:437 Points:175,600 Joined:Sep 2007	Message Posted: 5/12/2008 9:43:36 AM	Ignore bowler48226 Report Abuse
	Old news.
ramshot412 Champion Author Riverside Posts:10,541 Points:1,059,680 Joined:Apr 2004	Message Posted: 5/12/2008 9:42:23 AM	Ignore ramshot412 Report Abuse
	Up, up, and away.
TBoneSoCA Sophomore Author Orange County Posts:150 Points:41,475 Joined:May 2007	Message Posted: 5/12/2008 9:42:20 AM	Ignore TBoneSoCA Report Abuse
	.. and this is the same oil that sold for less than $70 a barrel a year ago
luv2sleep All-Star Author Riverside Posts:871 Points:58,440 Joined:Mar 2008	Message Posted: 5/12/2008 9:37:44 AM	Ignore luv2sleep Report Abuse
	BOHICA - Bend Over Here It Comes Again - Another price hike.
Scion08Xb Rookie Author Arkansas Posts:43 Points:10,510 Joined:May 2008	Message Posted: 5/12/2008 9:33:53 AM	Ignore Scion08Xb Report Abuse
	it needs to go down by $70.00 a barrel
socalusra Veteran Author California Posts:324 Points:1,525,585 Joined:Aug 2003	Message Posted: 5/12/2008 9:33:31 AM	Ignore socalusra Report Abuse
	wait till DEC [Edited by: socalusra at 5/12/2008 11:33:43 AM EST]
rogerparry Veteran Author Florida Posts:412 Points:107,030 Joined:Jan 2008	Message Posted: 5/12/2008 9:32:46 AM	Ignore rogerparry Report Abuse
	The media will find more "bad news" stories to print so the prices keep climbing.
easybuddy Rookie Author Illinois Posts:45 Points:113,055 Joined:May 2006	Message Posted: 5/12/2008 9:28:02 AM	Ignore easybuddy Report Abuse
	i thought bigger is better
Panama Red Champion Author San Diego Posts:1,550 Points:763,540 Joined:Jun 2004	Message Posted: 5/12/2008 9:26:46 AM	Ignore Panama Red Report Abuse
	No
93probeguy All-Star Author Little Rock Posts:629 Points:145,985 Joined:Jan 2006	Message Posted: 5/12/2008 9:25:26 AM	Ignore 93probeguy Report Abuse
	i'm hoping to hear something good from them today, as for every day
NavyEOD Champion Author Los Angeles Posts:1,034 Points:247,605 Joined:Jul 2007	Message Posted: 5/12/2008 9:24:57 AM	Ignore NavyEOD Report Abuse
	I hope not. Not holding my breath though.
iluna Sophomore Author Colorado Springs Posts:101 Points:37,285 Joined:Jun 2007	Message Posted: 5/12/2008 9:23:58 AM	Ignore iluna Report Abuse
	These greedy SOB's (speculators, politicians, etc.) are killing their golden goose. Pretty soon everything will come to a standstill and then what will they do to get more money??
Zinnoil Champion Author Illinois Posts:10,739 Points:1,329,770 Joined:May 2004	Message Posted: 5/12/2008 9:22:50 AM	Ignore Zinnoil Report Abuse
	Goldman Sachs said $150-200.
weenerdog All-Star Author Detroit Posts:576 Points:117,660 Joined:Jan 2008	Message Posted: 5/12/2008 9:22:31 AM	Ignore weenerdog Report Abuse
	I read this same article in the detroit news Sunday paper They are just preparing us for the $200 a barrel
FuelGrinch Sophomore Author Kansas Posts:108 Points:44,890 Joined:Aug 2005	Message Posted: 5/12/2008 9:20:07 AM	Ignore FuelGrinch Report Abuse
	I say $200 before the summer is over.
srtdc Rookie Author Lincoln Posts:67 Points:13,545 Joined:Apr 2008	Message Posted: 5/12/2008 9:17:49 AM	Ignore srtdc Report Abuse
	Within a week
44Irish Veteran Author Ontario Posts:336 Points:115,825 Joined:Mar 2007	Message Posted: 5/12/2008 9:17:22 AM	Ignore 44Irish Report Abuse
	Really old news.
CyanSquirrel Veteran Author Virginia Posts:262 Points:49,455 Joined:Jun 2004	Message Posted: 5/12/2008 9:16:32 AM	Ignore CyanSquirrel Report Abuse
	Old news :-( Where's some fresh?
kruk Veteran Author London Posts:284 Points:129,195 Joined:Jan 2007	Message Posted: 5/12/2008 9:15:37 AM	Ignore kruk Report Abuse
	and seems that Big3 are ignoring and produce trucks and cars with big and inefficient engines.
joelimite Rookie Author Virginia Posts:94 Points:30,605 Joined:Jan 2008	Message Posted: 5/12/2008 9:15:28 AM	Ignore joelimite Report Abuse
	You said it TEXJOHN.
TEXJOHN Sophomore Author Dallas Posts:186 Points:21,915 Joined:Mar 2008	Message Posted: 5/12/2008 9:12:01 AM	Ignore TEXJOHN Report Abuse
	No. $150 not too far behind. $150 is ten times closer than $100 so it seems.
bbthegun Veteran Author San Diego Posts:297 Points:298,635 Joined:Sep 2006	Message Posted: 5/12/2008 9:10:04 AM	Ignore bbthegun Report Abuse
	Well, the speculators who invested in oil as a hedge against the dollar and doing all they can to drive the price higher for their clients to make sure they don't lose their investment. The demand and global conditions simply do not support this high price and it will fall and hopefully soon...
deerchaser Rookie Author Lincoln Posts:11 Points:438,545 Joined:Sep 2005	Message Posted: 5/12/2008 9:07:44 AM	Ignore deerchaser Report Abuse
	Just wish I owned a couple of oil wells.
bug27 Champion Author Kentucky Posts:1,047 Points:992,300 Joined:Apr 2005	Message Posted: 5/12/2008 9:06:01 AM	Ignore bug27 Report Abuse
	The quicker oil rises to $150 or higher, the quicker we will develop alternatives to make oil obsolete. Sweet!
EarlyMoose Champion Author Seattle Posts:1,085 Points:541,025 Joined:Dec 2005	Message Posted: 5/12/2008 9:03:39 AM	Ignore EarlyMoose Report Abuse
	It depends on the speculators.
Gerund1 Veteran Author Toronto Posts:417 Points:737,915 Joined:Apr 2003	Message Posted: 5/12/2008 9:01:49 AM	Ignore Gerund1 Report Abuse
	Just keep on predicting and it will come.
ts08 Rookie Author New Jersey Posts:81 Points:17,900 Joined:Apr 2008	Message Posted: 5/12/2008 9:01:28 AM	Ignore ts08 Report Abuse
	Why ask us the readers, if it will reach $150...the companies, media and speculators already know it will...so stop the madness...start writing about how to save on gas and other stories..stop torturing people...
ned23 Champion Author Columbus Posts:2,703 Points:245,755 Joined:Dec 2003	Message Posted: 5/12/2008 8:47:49 AM	Ignore ned23 Report Abuse
	Unless they do something about the dollar, yes. If we can get 25 cents back on the dollar against the Euro, gas could drop by 50-60 cents /gal.
vascojoe Sophomore Author Washington Posts:243 Points:749,150 Joined:Aug 2005	Message Posted: 5/12/2008 8:47:19 AM	Ignore vascojoe Report Abuse
	Law of supply and demand.
Jennijen Champion Author Dayton Posts:4,480 Points:855,570 Joined:Jun 2004	Message Posted: 5/12/2008 8:46:59 AM	Ignore Jennijen Report Abuse
	Enough of this guessing if oil will go up even higher... it might as well read: "$120 a barrel- is $1000 far behind?"
CTDPower Veteran Author Virginia Beach Posts:429 Points:166,285 Joined:May 2007	Message Posted: 5/12/2008 8:46:47 AM	Ignore CTDPower Report Abuse
	Answer: soon
LukeIN All-Star Author Indianapolis Posts:844 Points:155,410 Joined:Nov 2007	Message Posted: 5/12/2008 8:44:47 AM	Ignore LukeIN Report Abuse
	until something is done about the stock market speculators prices will continue to go up!
NissanGirl Rookie Author Oregon Posts:90 Points:55,400 Joined:Jan 2008	Message Posted: 5/12/2008 8:44:15 AM	Ignore NissanGirl Report Abuse
	Uncle! No more!
rustyOR Rookie Author Oregon Posts:44 Points:20,755 Joined:Apr 2008	Message Posted: 5/12/2008 8:42:51 AM	Ignore rustyOR Report Abuse
	Greed is good.
okietree Veteran Author Oklahoma City Posts:315 Points:131,090 Joined:Oct 2005	Message Posted: 5/12/2008 8:41:21 AM	Ignore okietree Report Abuse
	I"m sure the oil barrel prices will continue to go up. As long as the companies can get away with it and the demand is there..... keep on raising it. Somehow we have to lower the demand.
spbob Sophomore Author Tampa Posts:194 Points:43,370 Joined:Feb 2008	Message Posted: 5/12/2008 8:39:53 AM	Ignore spbob Report Abuse
	It will go as high as the speculator's GREED will take it.
SummitSkiBum Rookie Author Denver Posts:16 Points:82,920 Joined:Sep 2006	Message Posted: 5/12/2008 8:39:39 AM	Ignore SummitSkiBum Report Abuse
	$150 is only a few months away, followed by $200 by the end of the year!! MARK MY WORDS PEOPLE!!!
esquared All-Star Author Oklahoma City Posts:699 Points:490,125 Joined:Jan 2006	Message Posted: 5/12/2008 8:39:19 AM	Ignore esquared Report Abuse
	Well, glazarides, it's the first time in US history that both the president and veep are oil men. Go figure.
stevewwvu Champion Author West Virginia Posts:1,196 Points:206,465 Joined:Mar 2007	Message Posted: 5/12/2008 8:36:53 AM	Ignore stevewwvu Report Abuse
	the lies will get u sthere
glazarides Rookie Author Akron Posts:91 Points:273,465 Joined:Jul 2006	Message Posted: 5/12/2008 8:33:24 AM	Ignore glazarides Report Abuse
	I think it will, I think G.W. is giving us the stimulus checks to pay for that, it's the only way G.W. could find to siphon money from the government to the oil companies. Or am I just being paranoid.
Somis1 Champion Author Ventura Posts:3,915 Points:891,295 Joined:Jul 2005	Message Posted: 5/12/2008 8:32:53 AM	Ignore Somis1 Report Abuse
	We don't get much oil from Chavez, but an excuse is an excuse.....
kingdick Champion Author Minnesota Posts:16,470 Points:1,341,895 Joined:Aug 2004	Message Posted: 5/12/2008 8:32:43 AM	Ignore kingdick Report Abuse
	----------------------------------- There are areas on the north slope that are open for lease outside of ANWR that no one is drilling, use those areas. ----------------------------------- Jeb Bush's request to the Fed's extended the block on drilling on the offshore shelf around Florida, too close to home. More power than the environmentalist have. -----------------------------------

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