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Old 06-27-2008, 04:15 AM   #1
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Oil climbs to record above $141 in Asia


By GILLIAN WONG

Oil prices climbed to a record above $141 a barrel in Asian trading Friday as the dollar's protracted slump prompted investors to flock to oil as a hedge against inflation.

Prices were also lifted Thursday after OPEC's president said crude prices could rise well above $150 a barrel this year and Libya said it may cut oil production.

Light, sweet crude for August delivery rose as high as $141.71 a barrel before pulling back to $141.10, up $1.46 in Asian electronic trading on the New York Mercantile Exchange, midafternoon in Singapore. The contract Thursday rose $5.09 to settle at a record $139.64.
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Old 06-27-2008, 06:37 AM   #2
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OIL= $170 A BARREL SAYS OPEC...ouch my ass hurts, I just been fucked by a camel
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Old 06-27-2008, 06:42 AM   #3
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damn so im gonna spend like $9 a month on gas for my motorbike???!!!!! that's it im PISSED


j/k i realize this effects prices of everything in some form or another.. unless the product is made by things that dont require transportation..
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Old 06-27-2008, 06:43 AM   #4
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I read not long ago, that even if the price hit 200$ there is not reason for the pump prices.
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Old 06-27-2008, 10:30 AM   #5
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Quote:
Originally Posted by pornguy View Post
I read not long ago, that even if the price hit 200$ there is not reason for the pump prices.
really??
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Old 06-27-2008, 12:28 PM   #6
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Quote:
Originally Posted by pornguy View Post
I read not long ago, that even if the price hit 200$ there is not reason for the pump prices.
On CNN they said just the opposite. They said around 70% of the price of a gallon of gas is made up from the cost of the crude oil.
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