[dorlomin]

$this->bbcode_second_pass_quote('', 'U')S light crude rose by more than two dollars to trade at $129.31 after the US oil investor, T.Boone Pickens said he expected oil prices to hit $150 a barrel later this year. Rumours from Israel denied by the White House, that president Bush is planning a military strike on Iran, added to the frenzied mood.

[Zardoz]

Louisiana Sweet now $132.85 on the spot market:

Upstream Online

[bodigami]

$this->bbcode_second_pass_quote('eXpat', '(')...)
$this->bbcode_second_pass_quote('', 'L')ONDON (AFP) - The price of oil rocketed to a record high 129.58 dollars on Tuesday as investors dived into a market driven higher by concerns about tight global energy supplies and strong demand.
--
The market was reacting to oil supply disruptions in France and OPEC's unwillingness to hike output, analysts said.

[bodigami]

$this->bbcode_second_pass_quote('Zardoz', 'L')ouisiana Sweet now $132.85 on the spot market:

Upstream Online

[xarkz]

House passes bill to sue OPEC over oil prices
http://news.yahoo.com/s/nm/20080520/pl_nm/congress_opec_dc
good luck with that

[Gerben]

$this->bbcode_second_pass_quote('xarkz', 'H')ouse passes bill to sue OPEC over oil prices
http://news.yahoo.com/s/nm/20080520/pl_nm/congress_opec_dc
good luck with that

[Zardoz]

$this->bbcode_second_pass_quote('Shannymara', 'Y')eah, I don't think we're using Louisiana Sweet for the official records here.

[gnm]

$this->bbcode_second_pass_quote('xarkz', 'H')ouse passes bill to sue OPEC over oil prices
http://news.yahoo.com/s/nm/20080520/pl_nm/congress_opec_dc
good luck with that

[Cog]

If our Congress critters are going to pass this type of bone-headed legislation at $129/bbl, what can we expect when we get to $200?

I seriously thought this was a parody story. Sad to see it is not.

[strider3700]

$this->bbcode_second_pass_quote('Cog', 'I')f our Congress critters are going to pass this type of bone-headed legislation at $129/bbl, what can we expect when we get to $200?

[darren]

deleted...

[The_Toecutter]

$this->bbcode_second_pass_quote('AirlinePilot', '')$this->bbcode_second_pass_quote('Smudger', 'T')otal - five years to switch car production to high efficiency and electric cars/ max out on solar/wind/wave and avoid a stepchange event......not overly long people...

[Smudger]

toecutter does make a strong point here. if anyone is being sued it should be the car/oil companies - it would be interesting to see if a cigarette type enquiry was undertaken what we discover.

on a practical basis we should still be switching as whatever progress we make in the next few years will reduce the pain somewhat.

[olekriri]

Light crude: $129.82

[dorlomin]

$this->bbcode_second_pass_quote('olekriri', 'L')ight crude: $129.82

[no_name]

$130

[dblk]

$130.01

[no_name]

Oil Rises Above $130 a Barrel in New York for the First Time

By Grant Smith
Enlarge Image/Details

May 21 (Bloomberg) -- Oil rose above $130 a barrel for the first time after at least five banks raised price forecasts in the past week on expectations supply constraints will persist.

Crude oil for July delivery gained as much as $1.21, or 0.9 percent, to $130.28 a barrel, in electronic trading on the New York Mercantile Exchange. It traded for $130.22 at 11:13 a.m. London time.

Oil for delivery in December 2016 surged $17.08, or 14 percent, in the three trading days since Goldman Sachs Group Inc., raised its forecast to $141 a barrel for the second half of the year. Yesterday, Societe Generale SA and Credit Suisse raised their forecasts, while billionaire Boone Pickens repeated his prediction for $150 oil this year.

``You see more money going into the back end of the curve,'' said Olivier Jakob, managing director of Petromatrix Gmbh in Zug, Swizterland. ``The issue is not the fundamentals. What's bullish is the comments from people like Goldman Sachs, Boone Pickens.''

To contact the reporter on this story: Christian Schmollinger in Singapore at Christian.s@bloomberg.net; Grant Smith in London at

Last Updated: May 21, 2008 06:14 EDT

http://www.bloomberg.com/apps/news?pid= ... refer=home

[something_awfull]

$130.12

[bl00k]

Guys, i dont want to spoil the party, but what use is it following the price in dollars? The devaluation has some say in high prices. The euro is therefor a better choice. And it's not like that won't be exciting, even in euro's oil has more than doubled in the past year.