Crude's Record March Continues |
| TheStreet.com - Oct 26, 2007 |
A day after surging 3.9%, oil futures were marching ahead once again.
Crude for December delivery was recently rising 84 cents to $91.30 a barrel in electronic trading Friday, and earlier it touched yet another all-time high at $92.22.
During the last session, prices closed above $90 a barrel for the first time ever after the White House introduced new sanctions against Iran and OPEC's secretary general said his group isn't worried yet about rising prices.
Futures settled up $3.36 to $90.46 in New York.
Last week, the near-month contract briefly touched what was an all-time high at $90.07 amid worries about the tension between Turkey and Iraqi Kurds, expectations supply would remain tight and speculative buying, all of which remain factors to at least some degree.
Read Full Article from TheStreet.com
- Posted: 2007-10-26 10:52:47
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