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GasBuddy News Article


Oil tops $126 US a barrel
Friday, May 09, 2008
CBC News -- Oil prices surpassed a record $126 US per barrel Friday on the eve of the U.S. driving season as a weakening dollar drove investors to snap up commodities.

Light, sweet crude for June delivery roseto a new record of $126.20 US a barrel in electronic trading on the New York Mercantile Exchange by the afternoon in Europe. Oil later traded at $125.28 US, up $1.59 US.

On Thursday, the contract rose to a record close of $123.69 US a barrel.


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JT
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Message Posted: 5/9/2008 10:56:46 AM  Ignore JT Report Abuse
Friday, May 09, 2008
CBC News -- Oil prices surpassed a record $126 US per barrel Friday on the eve of the U.S. driving season as a weakening dollar drove investors to snap up commodities.

Light, sweet crude for June delivery roseto a new record of $126.20 US a barrel in electronic trading on the New York Mercantile Exchange by the afternoon in Europe. Oil later traded at $125.28 US, up $1.59 US.

On Thursday, the contract rose to a record close of $123.69 US a barrel.

Visit CBC News for full article
REPLIES (newest first)
Towne234
Rookie Author
Greensboro

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Message Posted: 5/11/2008 3:56:48 PM  Ignore Towne234 Report Abuse
It's stil going up over 200 dollars.
gasforus
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Michigan

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Message Posted: 5/11/2008 9:58:14 AM  Ignore gasforus Report Abuse
And tomorrow it will be higher or lower, and so on, and so on, etc., etc.
kingdick
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Minnesota

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Message Posted: 5/11/2008 9:48:48 AM  Ignore kingdick Report Abuse

Even if the major U.S. oil corporations were allowed to drill every square inch of the U.S., there simply isn't enough projected oil reserves for the U.S. to ever achieve energy independency based upon the current oil-based economy.
brogan56
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Colorado Springs

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Message Posted: 5/11/2008 9:30:32 AM  Ignore brogan56 Report Abuse
Has the sky fallen yet?

Signed,
Penny Henny
Gassie1
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Akron

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Message Posted: 5/11/2008 9:29:21 AM  Ignore Gassie1 Report Abuse
This too will seem a bargin in the not too distant future.
HDUltra03
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Oregon

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Message Posted: 5/11/2008 9:24:40 AM  Ignore HDUltra03 Report Abuse
This happens when oil is traded!
Marson
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Pennsylvania

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Message Posted: 5/11/2008 9:23:04 AM  Ignore Marson Report Abuse
Dont wory they will come up with the excuse of the week.
DerHahn
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Illinois

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Message Posted: 5/11/2008 9:21:22 AM  Ignore DerHahn Report Abuse
so what excuse will be used this week to keep prices high?
Cuzilla
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Indianapolis

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Message Posted: 5/11/2008 9:19:49 AM  Ignore Cuzilla Report Abuse
So what? If it bothers you, buy less! I reread my copy of the U.S. Constitution the other day and could find no mention of the "right" to low gas prices - or any cheap transportation for that matter!
The_WB
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Detroit

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Message Posted: 5/11/2008 9:11:35 AM  Ignore The_WB Report Abuse
Stay tuned for next weeks price.
hauler43
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Oakland

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Message Posted: 5/11/2008 9:06:48 AM  Ignore hauler43 Report Abuse
Sticking it to Pres Bush an his allies.
weenerdog
All-Star Author
Detroit

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Message Posted: 5/11/2008 9:06:04 AM  Ignore weenerdog Report Abuse
it will only go up, we've given them permission with these predictions.
the sky is the limit
Masercal
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Michigan

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Message Posted: 5/11/2008 9:05:42 AM  Ignore Masercal Report Abuse
Oil makes me sick and listening to people continue to whine about the high price of oil is just as bad. We have a choice people...move away from oil and move to affordable renewable energy. The technology and some of the products are here today. We just need to demand the change.
kingdick
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Minnesota

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Message Posted: 5/11/2008 8:59:16 AM  Ignore kingdick Report Abuse

The Fed's have done plenty but MOST of it has made it BETTER for the rich and WORSE for the working middle class.

-----------------------------------
In the many years before 2006 the Republicans control of our government did not foster increasing the supply of oil.
They also deregulated the markets which has allowed the Speculators freedom to RAISE the price of Crude with no regard to supply and demand.
Another bad thing that happened on their watch is all the Control of fuel to very few companies, no competition.
-----------------------------------
Mazdaman7Q
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South Carolina

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Message Posted: 5/11/2008 8:58:24 AM  Ignore Mazdaman7Q Report Abuse
And on and on and on...
n3his
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Pennsylvania

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Message Posted: 5/11/2008 8:51:38 AM  Ignore n3his Report Abuse
Congress, does what it does best. Nothing!!!
winggnutt
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Detroit

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Message Posted: 5/11/2008 8:51:33 AM  Ignore winggnutt Report Abuse
DRILL NOW!!!!!!!
bug27
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Kentucky

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Message Posted: 5/11/2008 8:48:29 AM  Ignore bug27 Report Abuse
The Democrats in Congress are blocking new American supply. Therefore, we are forced to depend on the Middle East, Venezuela, etc.
phatride92
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Kansas

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Message Posted: 5/11/2008 8:48:27 AM  Ignore phatride92 Report Abuse
up the short term capital gains tax on oil futures.
walker1
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Ohio

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Message Posted: 5/11/2008 8:44:57 AM  Ignore walker1 Report Abuse
wallstreet, investors. speculators, and govenment, this is what is keeping the prices going up
Zinnoil
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Illinois

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Message Posted: 5/11/2008 8:37:09 AM  Ignore Zinnoil Report Abuse
And Congress will not address supply.
SpruceGuse2
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Michigan

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Message Posted: 5/11/2008 8:35:47 AM  Ignore SpruceGuse2 Report Abuse
That's because we are letting speculators control the market.
UTOrangeMan
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Atlanta

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Message Posted: 5/11/2008 8:35:15 AM  Ignore UTOrangeMan Report Abuse
Can't handle much more.
4warned
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Michigan

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Message Posted: 5/11/2008 8:28:04 AM  Ignore 4warned Report Abuse
Old News. How about some government action, by allowing more drilling.
tomok
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Portland

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Message Posted: 5/11/2008 8:27:12 AM  Ignore tomok Report Abuse
higher and higher..........
Matts_Pap
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Pennsylvania

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Message Posted: 5/11/2008 8:24:27 AM  Ignore Matts_Pap Report Abuse
See ya later: This is where I came in!
Cachase1
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Oklahoma City

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Message Posted: 5/11/2008 8:22:53 AM  Ignore Cachase1 Report Abuse
Why is this news? It seems like we have an increase almost daily.
tags610
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Lincoln

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Message Posted: 5/11/2008 8:21:39 AM  Ignore tags610 Report Abuse
It will get to where people really can't afford, not just think they can't afford it.
Gellin
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Michigan

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Message Posted: 5/11/2008 8:20:49 AM  Ignore Gellin Report Abuse
no end in sight
marbljk
Sophomore Author
Alabama

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Message Posted: 5/11/2008 8:13:41 AM  Ignore marbljk Report Abuse
Up Up and away.
racerdj
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Indianapolis

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Message Posted: 5/11/2008 8:10:00 AM  Ignore racerdj Report Abuse
Ditto!
4flees
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Virginia Beach

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Message Posted: 5/11/2008 8:09:06 AM  Ignore 4flees Report Abuse
Nothing like starting Mother's Day on a positive note...
1alden
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Twin Cities

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Message Posted: 5/11/2008 8:04:51 AM  Ignore 1alden Report Abuse
OUCH
Shiff
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Pennsylvania

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Message Posted: 5/11/2008 8:03:02 AM  Ignore Shiff Report Abuse
nothing new
CTTeacher
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Waterbury

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Message Posted: 5/11/2008 7:57:37 AM  Ignore CTTeacher Report Abuse
GRRRR!
EXTREMESNOW
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Oregon

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Message Posted: 5/11/2008 7:55:41 AM  Ignore EXTREMESNOW Report Abuse
TODAY HIGH IS TOMORROWS LOW! WITH NO RELIEF IN SIGHT, OF COURSE THEY ARE SNAPPING UP THE COMMODITIES.
The_WaTchR
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Georgia

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Message Posted: 5/11/2008 7:52:11 AM  Ignore The_WaTchR Report Abuse
OPEC is laughing their a## to the bank.
meteorologist
Champion Author
Knoxville

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Message Posted: 5/11/2008 7:51:51 AM  Ignore meteorologist Report Abuse
Speculation is only a factor because global demand is a factor.
lpj
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Georgia

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Message Posted: 5/11/2008 7:44:40 AM  Ignore lpj Report Abuse
gas is what everyone life !
CheddarWedge
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Texas

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Message Posted: 5/11/2008 7:41:36 AM  Ignore CheddarWedge Report Abuse
With the guessing game of speculation, the majority will loose.
c47
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Virginia

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Message Posted: 5/11/2008 7:39:30 AM  Ignore c47 Report Abuse
Whats new???
gohiking
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Los Angeles

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Message Posted: 5/11/2008 7:32:54 AM  Ignore gohiking Report Abuse
I already did something...I thanked God every day for buying my electric car. Keep on paying the terrorists, it will bring Armageddon sooner!
Lonewolftx
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Houston

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Message Posted: 5/11/2008 7:29:28 AM  Ignore Lonewolftx Report Abuse
Onward and upwards it goes . . .
FLF
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South Dakota

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Message Posted: 5/11/2008 7:27:02 AM  Ignore FLF Report Abuse
ALL THIS PRESS ATTENTION WILL DRIVE THE PRICES EVEN HIGHER
MaltaLee
Sophomore Author
Albany

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Message Posted: 5/11/2008 7:20:05 AM  Ignore MaltaLee Report Abuse
And starting monday they'll writing another article stating that oil will go to $128-130 a barrel.
DooDaa
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Massachusetts

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Message Posted: 5/11/2008 7:16:29 AM  Ignore DooDaa Report Abuse
Chump Change!
racer3
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New York

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Message Posted: 5/11/2008 7:10:37 AM  Ignore racer3 Report Abuse
close wall street
spc
Veteran Author
North Carolina

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Message Posted: 5/11/2008 7:07:53 AM  Ignore spc Report Abuse
countdown to $200...moving right along...
AvantiMick
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Indiana

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Message Posted: 5/11/2008 7:07:41 AM  Ignore AvantiMick Report Abuse
It ain't done yet!
FieroGT
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Twin Cities

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Message Posted: 5/11/2008 6:54:16 AM  Ignore FieroGT Report Abuse
Oh joy!
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