Oil: New high
Today is the 1st anniversary of the London bombing, and crude oil price has hit a new high of US$75.40 a barrel as share price reached a 7-week high on FTSE 100 index, and a record high of $75.78 a barrel on Nymex West Texas Intermediate.
Product price is on the way up, and crude is clinching towards US$80, and even US$100 a barrel. Oil exporting countries are similarly feeling the crunch.
The news is telling you on the 7th day of 2nd Half, 2006. You think of Idris Jala and the air-tickets.
Comments
i think you meant the Brent crude on the ICE exchange, FTSE 100 is the top 100 stocks in FTSE. =P
JEFF OOI says: Sorry I didn't make myself very clear in the first instance. Thanks for the heads-up.
Posted by: boringest![[TypeKey Profile Page]](http://www.jeffooi.com/nav-commenters.gif)
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July 7, 2006 09:48 PM
about one year ago, Jeff had several posts regarding the high price of oil. the illustrious Mr. Steve Forbes was one them, saying that oil would be back to below 35/barrell within 6 months. where are you now Mr. Forbes?
Posted by: JAM![[TypeKey Profile Page]](http://www.jeffooi.com/nav-commenters.gif)
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July 8, 2006 04:48 AM
Before the EHM book was published, there was another written about the oil companies titled, "the seven sisters".
It seems that the oil companies were the EHM of the 1960-70's.
The oil companies may have engineered the present spiralling cost of fuel by stopping the flow of Iraqi oil, with the help of Saudi citizens in 9/11.
Posted by: sydput![[TypeKey Profile Page]](http://www.jeffooi.com/nav-commenters.gif)
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July 8, 2006 01:31 PM