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Oil Climbs Above $102 to a Record as Dollar Falls Against Euro
Mark Shenk, Bloomberg
Crude oil rose above $102 a barrel to a record in New York after the U.S. dollar dropped to an all-time low against the euro for a third day, prompting investors to buy commodities as an inflation hedge.
(28 February 2008)
Oil hits inflation-adjusted record high
Reuters
U.S. oil surged to a new inflation-adjusted record high on Thursday, surpassing the previous record of $102.53 set in 1980, according to the International Energy Agency.
The following table from the BP Statistical Review of Energy picks out key moments in oil market history.
(28 February 2008)
Option plays suggest oil may fall to $80 by June
Jane Merriman, Reuters
A big chunk of new speculative money that has poured into energy futures has gone into options, which can now play a bigger role in driving the ups and downs in the price of crude oil.
In November last year a mass of option bets on $100 oil came close to pushing prices to that level. Now a large number of options are betting oil could fall to $80 by June.
(28 February 2008)
Contributor Bill McD points out that Reuters has withdrawn the story.
Advisory : “[The story] is wrong and is withdrawn.”
