[Leanan]

Oil futures hit $100 a barrel

$this->bbcode_second_pass_quote('', ' ')NEW YORK - Crude oil futures on the New York Mercantile Exchange hit $100 a barrel in intraday trading Wednesday.

Oil prices jumped sharply, setting a new trading record on supply concerns sparked by renewed violence in Nigeria and a warning that OPEC may not be able to meet its share of global oil demand by 2024.

[Leanan]

That Livecharts link has real-time data, but I was just looking here.

[Eli]

Way to bring in 2008.

[Leanan]

In honor of this auspicious occasion, "Kenny" at TOD posted this classic:

$this->bbcode_second_pass_quote('', '[')b]Yergin and $100 oil

He HADN'T stopped it from coming!
IT CAME!
Somehow or other, it came just the same!

He stood puzzling and puzzling: "How could it be so?"
"It came without hurricanes!, without war with Iran!"
"It came without Al Quaeda bombing Bahrain"
And he puzzled three hours, 'till his puzzler was sore.
Then Yergin thought of something he hadn't before!
"Maybe crude oil" he thought, "doesn't come from a store."

[Chuckmak]

$this->bbcode_second_pass_quote('Leanan', 'I')n honor of this auspicious occasion, "Kenny" at TOD posted this classic:

$this->bbcode_second_pass_quote('', '[')b]Yergin and $100 oil

He HADN'T stopped it from coming!
IT CAME!
Somehow or other, it came just the same!

He stood puzzling and puzzling: "How could it be so?"
"It came without hurricanes!, without war with Iran!"
"It came without Al Quaeda bombing Bahrain"
And he puzzled three hours, 'till his puzzler was sore.
Then Yergin thought of something he hadn't before!
"Maybe crude oil" he thought, "doesn't come from a store."

[Bas]

$this->bbcode_second_pass_quote('Eli', 'W')ay to bring in 2008.

[PeakOiler]

$this->bbcode_second_pass_quote('Leanan', 'I')n honor of this auspicious occasion, "Kenny" at TOD posted this classic:
...

[Eli]

Yeah! we were right, we were right!







....we are all going to die.

[Leanan]

According to this article, oil hit $100 at 12:13 p.m. EST.

And here's a screencap for posterity:

[Novus]

No we are not going to die. Everyone back to sleep. New 2008 price adjustments put the all time high adjusted for inflation at $120.

Things have never been better people. Just keep shopping and everything will work out.

[Bas]

it still seems that $100 is a very strong psychologicl barrier the market is reluctant to decisively break through; only when all the future contracts and the spot price are above $100 we can really say we really passed the barrier, this might happen tomorrow on a bad inventory report, or next week but it can also be 6 months from now.

[Zahl]

There was a single trade at exactly $100.00 at 12:09. Somebody paid a $0.50 premium per barrel just to be the first to trade at $100.00.

[Leanan]

We got a record close today as well:

$this->bbcode_second_pass_quote('', 'L')ight, sweet crude for January delivery rose $4.02 to $100 a barrel on the New York Mercantile Exchange, according to Brenda Guzman, a Nymex spokeswoman, before slipping back to settle at a record close of $99.62, up $3.64.

Oil prices are within the range of inflation-adjusted highs set in early 1980. Depending on how the adjustment is calculated, $38 a barrel then would be worth $96 to $103 or more today.

[Chuckmak]

$this->bbcode_second_pass_quote('Zahl', 'T')here was a single trade at exactly $100.00 at 12:09. Somebody paid a $0.50 premium per barrel just to be the first to trade at $100.00.

[thor]

Yeah baby yeah! We've hit $100 a barrel. How cool is that, huh?

[strider3700]

cnbc was reporting that it was a paper trade of a single contract as well. In the grand scheme of things $100,000 is nothing compared to being part of history. Look at how much media attention $100 oil got and will get tonight.

[bl00k]

D*mn, for a minute there i felt that good ole' oil-price-going-through-the-roof-were-d00m3d-rush.

I've settled down. 100$ is old news now, and 110 doesnt sound as cool as 100 does... life of a Peak Oiler is tough!

[Jester]

Oil prices are within the range of inflation-adjusted highs set in early 1980. Depending on how the adjustment is calculated, $38 a barrel then would be worth $96 to $103 or more today.


Always within range, but never equals it, no matter how hight it goes

[lawnchair]

$this->bbcode_second_pass_quote('strider3700', 'c')nbc was reporting that it was a paper trade of a single contract as well. In the grand scheme of things $100,000 is nothing compared to being part of history. Look at how much media attention $100 oil got and will get tonight.

[Zahl]

$this->bbcode_second_pass_quote('Chuckmak', '')$this->bbcode_second_pass_quote('Zahl', 'T')here was a single trade at exactly $100.00 at 12:09. Somebody paid a $0.50 premium per barrel just to be the first to trade at $100.00.