Oil rises to $119 a barrel

Oil rises to $119 a barrel

www.dailytimes.com.pk

Oil climbed above $119 a barrel on Friday after a workers strike cut production in Nigeria and tensions rose between the United States and Iran. US crude futures surged $3.15 to $119.21 a barrel, within striking distance of the all-time peak of $119.90 reached on Tuesday. London Brent crude traded $2.98 higher at $117.32 a barrel, after hitting a new record of $117.51 earlier in the session. A ship contracted by the US Military Sealift Command fired at least one shot toward an Iranian Boat

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I just wonder if the current tensions ultimately lead to War Between US and Iran, The Oil prices would set new record every hour of the day isn't?

www.dailytimes.com.pk
(visit the link for the full news article)

We are only just seeing the start of it The oil price in my mind will hit $160 us by Christmas time Its not going to be very nice Christmas

And every one this is just my thought i dont have any info just a feeling

As for Iran and America i don't think its going to happen

Speculators need money. It doens't matter what happens they'll use various excuses to send oil prices skyrocketing like they have been doing already.

[edit on 25/4/08 by MikeboydUS]

Heres a report that says it will probably get to $200 a Barrel.

Some Believe Oil Will Reach $200 A Barrel

Obviously they are trying to make us all fuzzy about $4.00 a gallon gas.

So much for the economic stimulus huh...its all going in the gas companies pockets, of course this will be the biggest profits ever.