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record high $100 a barrel of oil
    #7828574 -

The price of standard crude oil on NYMEX was under $25/barrel in September 2003. By August 11, 2005, it had risen to over $60/barrel. Through most of 2006 the price showed a bumpy plateau, with a summer peak, falling for the early part of 2007 to between $50 and $60/barrel, before rising again. By October 2007 prices had reached $92/barrel and reached $99.29/barrel for December futures in New York on November 21, 2007[2]. On January 2, 2008, oil prices had an all-time peak at $100 per barrel.

On January 2, 2008 US light crude surpassed the psychological barrier of $100 before falling to $99.69, due to tensions on New Years Day in Nigeria and on suspicion that US stocks of crude will have dropped for the seventh consecutive week. A BBC report from the following day stated that a single trader bid up the price. 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. "They absolutely overpaid, he paid $600 for the right to tell his grandchildren that he was the first in the world to buy $100 oil." However, on January 3, 2008 oil rose to $100.05 a barrel

http://en.wikipedia.org/wiki/Oil_price_increases_of_2004-2008

lol that guy spent $600 just to say he bought that oil ahhhahahah thats so hilarious


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Re: record high $100 a barrel of oil [Re: Coaster]
    #7828813 -

damm dood its 4x the amount it was in 2003


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Re: record high $100 a barrel of oil [Re: Coaster]
    #7831664 -

...Time to plaster some solar cells on the 'ole Camaro. :lol:

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Re: record high $100 a barrel of oil [Re: Xeluc]
    #7831709 -

ive been working at the nymex since 2002


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Admin Edit: Your signiture is inappropriate and has been removed.  Do not harass other members in your signiture.  Also refrain from posting links to scat pornography.  If I see anything like that here again, you will be banned.

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