Esoteric Dissertations from a One-Track Mind

January 3, 2008

Oil Hits $100 per Barrel

Filed under: economy — Tags: — codesmithy @ 8:47 am

Reuters reports that oil hit $100 per barrel.  It is worth remembering the reasons why we were paying $89 per barrel.  Yes, it has a lot to do with weaker dollars.  $100 per barrel is a psychological milestone, so it is unsurprising that it settled down to $99.62.  However, it is also apparent that the price of oil is ready to bust on through the $100 ceiling.

It is definitely something to watch.  What a way to kick off the New Year.

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