TopNews

Oil Prices Break $105 a Barrel

March 6, 2008

SHARING TOOLS        | Print Subscribe
Crude oil future prices broke the $105 a barrel mark Thursday, while the average price of diesel hit $3.70 a gallon.

Light, sweet crude for April delivery rose 95 cents to close at a record $105.47 a barrel on the New York Mercantile Exchange, after earlier spiking to a new trading record of $105.97.
Helping push oil prices higher Thursday was an overnight rebel attack on a Colombian oil pipeline that transports 60,000 barrels of oil a day for export markets, reported the Associated Press. Another factor is the dollar's continued weakness against the euro, as investors look for a better place to put their money. Commodities futures, such as crude oil, gold, silver, and agricultural crops, tend to be a popular investment when the dollar's value is weak.
Resource Investor, saying the crude prices are "rallying like a runaway train," noted that crude oil prices have risen 19 percent in just one month, after a 56-percent gain last year.

Comment On This Story

Name:  
Email:  
Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

Newsletter

We offer e-newsletters that deliver targeted news and information for the entire fleet industry.

GotQuestions?

Lubricants

The expert, Mark Betner from CITGO, will answer your questions

View All

GotQuestions?

Suspension

The expert, Rence Oliphant from Hendrickson, will answer your questions

View All