Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Oil Tops $130

Supply concerns drive crude

By Kevin Spak, Newser Staff

Posted May 21, 2008 8:30 AM CDT

(Newser) – Oil set yet another record today, with prices hitting $130.47 a barrel in electronic trading in Asia and Europe, the AP reports, on supply concerns and renewed worries about the dollar. Crude closed at $128.98 in the last New York Mercantile Exchange session.... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

Associated Press (Source Grid »)

Oil prices, inflation sting market
Los Angeles Times

The Cassandra of oil predicts $200 a barrel
New York Times

Money

oil • futures market • oil price • crude oil • US dollar • New York Mercantile Exchange

More Newser Stories

Oil Flirts With Record-High $104

Passes inflation-adjusted all-time peak

(NEWSER) - As oil soared to nearly $104 a barrel today, it set an all-time, inflation-adjusted record, surpassing even the height of the oil crises of the '70s and '80s, the New York Times reports. Futures touched $103.95 on the New York Mercantile Exchange, beating out the April 1980 record of $39.50 a barrel, or $103.76 adjusted for inflation. More»

All Eyes on OPEC for Oil Price Relief

Saudis expected to boost output as prices close in on $100

(NEWSER) - With oil prices poised to pass the $100 mark any day now, a pair of reports speculates that OPEC will cool the overheated market by boosting oil production, the Wall Street Journal reports. One consulting firm said OPEC, spurred by Saudi Arabia’s increased deliveries to the US, could up output by as much as 720,000 barrels a day. More»

Oil Tops $99 as Dollar Sinks

Weak greenback and strong demand could send crude over $100 a barrel today

(NEWSER) - The price of oil hit a record high mere pennies from $100 a barrel and the dollar sunk to a new low in early trading today. Oil hit $99.29 but slipped back to $98.64. With cold weather hitting the US, and OPEC supplies limited, some analysts think oil prices could hit the $100- a-barrel milestone as early as today. The continued drop in the dollar against other currencies is helping fuel the rise. More»

Rogue Trader Shocks Oil Market

Crude hits highest level in a year on unauthorized trades

(NEWSER) - On Tuesday, the price of oil spiked unexpectedly to its highest level in 2009—a barrel of crude jumped from $71 to $73.50 in just one hour, for no apparent reason. Yesterday the reason became clear: a rogue broker in London with PVM, the world's largest petroleum brokerage, had conducted unauthorized trades that cost the company $10 million, reports the Financial Times. Since then, the cost of oil has eased to $66.5 a barrel, down 10% from Tuesday's peak. More»

Oil Breaks Record, Climbs Above $141

Weak dollar sends investors into crude

(AP) - Oil prices climbed above $141 a barrel in Asian trading today—another record—as the dollar's protracted slump prompted investors to flock to oil as a hedge against inflation. Prices also were lifted yesterday after OPEC's president said crude prices could go higher than $150 a barrel this year and Libya said it may cut oil production. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Oil Tops $130

Supply concerns drive crude

oil • futures market • oil price • crude oil • US dollar • New York Mercantile Exchange

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Oil Flirts With Record-High $104

Passes inflation-adjusted all-time peak

All Eyes on OPEC for Oil Price Relief

Saudis expected to boost output as prices close in on $100

Oil Tops $99 as Dollar Sinks

Weak greenback and strong demand could send crude over $100 a barrel today

Rogue Trader Shocks Oil Market

Crude hits highest level in a year on unauthorized trades

Oil Breaks Record, Climbs Above $141

Weak dollar sends investors into crude

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?