Oil Prices make history again

Oil Prices make history again. Crude oil closed above $100 a barrel for the first time ever yesterday. Worries about possible cutbacks in oil production by Organization of Petroleum Exporting Countries, or OPEC, combined with a Monday explosion at the Alon USA refinery in Big Spring, Texas, goosed oil prices above the $100 mark to be exact it is $100.01 initially and rouse to $100.10 at the peak yesterday. This is a new record reported at MSNBC.

Also what worries is a possible violent thread in Nigeria. So world political scenario will have a great impact on the current world oil prices.

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1 Comment so far

  1. […] Locally, The KL Composite Index had closed lower for the past two trading days. It opened sharply lower yesterday (March 3, 2008) and stayed in negative territory throughout and same goes today where they extended their losses for the second day this week, as investors continued to stay on the sidelines on nagging concerns about a weakening US economy and surging oil prices. See my earlier post this month, Oil Prices make history again. […]

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