Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (19096)	9/27/2004 10:24:18 AM
From: mishedlo	Respond to of 110194

Oil hits record New record reached with $50 a barrel in sight as fighting in Nigeria raises new inventory concern. September 27, 2004: 8:46 AM EDT By Chris Isidore, CNN/Money senior writer money.cnn.com NEW YORK (CNN/Money) - Oil futures hit a new record Monday morning and appeared ready to cross the $50 a barrel mark, as concerns about inventory levels were compounded by the latest unrest in Nigeria. U.S. crude futures rose 57 cents to $49.45 a barrel in electronic trading early Monday, according to Reuters. That put it 5 cents above the $49.40 intraday record set last month. Brent oil futures set a record, rising to $46 a barrel before pulling back to $45.80, up 47 cents on the session. "If we don't hit it ($50) today, we're going to hit it before Wednesday and there's a good chance we'll do it today," said oil analyst Peter Beutel, president of Cameron Hanover. "Basically the supply and demand is still very bullish here. We just don't have any cushion in terms of supply for prices to move anywhere other than higher."............