Thursday, September 20, 2007

Eighty-Two Dollar Oil

Oil closed at $81.93 yesterday, yet another record. As I write this, light sweet crude is currently trading above $82 per barrel. With oil in the high seventies this summer, who'd have thought it would climb even higher? Well, I would have.

Copyright (C) 2007 James Michael Brennan, All Rights Reserved

Thursday, September 13, 2007

Eighty Dollar Oil

After trading above the eighty dollar mark during the day, oil closed yesterday within spitting distance of eighty dollars per barrel, at $79.91. That's yet another record close. Demand remains strong. (What, you thought those 2+ billions of Chinese and Indians would change their minds about developing their economies and aiming for the same unsustainable standard of living that Americans enjoy?) Supplies remain, and always will be, tight.

Copyright (C) 2007 James Michael Brennan, All Rights Reserved