The $100 oil barrel has arrived

[NoddY]

Oil price at record $100 a barrel

http://news.bbc.co.uk/1/hi/business/7168664.stm


Doomed. Or is it boomed?

[Troll]

Certainly the counters are clicking into place for a perfect storm.

I cannot see how UK PLC can continue with such high energy costs and not pass it onto the consumer & this coupled with downward pressure on wages should tip us over.....but the New Years sales were buoyant ... was that he last gasp on the credit cards

[MrRobin]

The man behind the record rise in oil prices to $100 a barrel was a lone trader, seeking bragging rights and a minute of fame, market watchers say.

Stephen Schork, a former floor trader on the New York Mercantile Exchange and the editor of an oil market newsletter, said one floor trader bought 1,000 barrels, the smallest amount permitted, and sold it immediately for $99.40 at a $600 loss.

"He paid $600 for the right to tell his grandchildren that he was the first in the world to buy $100 oil."

http://news.bbc.co.uk/1/hi/business/7169543.stm

[Churchill]

http://news.bbc.co.uk/1/hi/business/7169543.stm

What a cock of the first order.

[Troll]

The supply of oil is pretty much matched to the demand at the moment...the spikes are being driven by speculators