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February 19, 2008

Oil Price Sets New Record Peak Oil


Oil prices hit new record highs Tuesday as a Texas refinery fire and fears of an OPEC production cut pushed crude to settle at over $100 a barrel for the first time ever.

U.S. crude for March delivery jumped $4.51 to settle at $100.01 a barrel on the New York Mercantile Exchange, topping the previous settlement record of $99.62 set Jan. 2.

Oil also hit a new all-time trading high of $100.10 a barrel, besting the previous high of $100.09 set Jan. 3.

Posted by Jonathan at February 19, 2008 02:54 PM  del.icio.us digg NewsVine Reddit YahooMyWeb