Oil price hits new peak 6/30

freezorburn · 06-30-2008, 09:53 AM

Oil price hits new peak
1 hour ago

The Press Association: Oil price hits new peak

The cost of oil surged to a new record near 144 US dollars a barrel as oil company bosses gathered in Madrid to discuss rocketing prices.

Oil soared past 143 dollars a barrel on tensions in Iran as investors also sought refuge from a weaker dollar.

light, sweet crude for August delivery hit 143.67 US dollars a barrel in electronic trading on the New York Mercantile Exchange, before slipping back slightly.

The new all-time high comes as the heads of oil majors such as BP and Royal Dutch Shell and a senior European Union official meet to address the World Petroleum Congress in Madrid.

The conference's opening session struck a sombre tone as oil's record run continued, with speakers agreeing that prices were unlikely to return to 2005 levels.

BP chief executive Tony Hayward warned against hopes that the present high prices are a bubble that will burst as they did in the 1970s, saying that supply and demand had since changed.

Concerns over global supplies and tension between Iran and Israel have pushed prices higher in recent days.

Oil traders reacted to reported warnings from the commander of Iran's Revolutionary Guards that Tehran would attack Israel with missiles if his country was attacked. Weekend reports also suggested that if Iran were provoked, it would move to control a key oil passageway in the Gulf.

An emergency summit in Jeddah, Saudi Arabia, earlier this month, failed to ease the current oil price surge, despite the Kingdom pledging to add another 200,000 barrels per day next month to a 300,000 barrel per day production increase already announced in May.

But markets were left disappointed amid concerns that more is needed for supply to keep up with demand. Last week the head of the Opec oil cartel said prices could reach as high as 170 dollars a barrel this summer.

Disco Lady · 06-30-2008, 10:42 AM

COÑO!!!!!!!!!!!

B767 · 06-30-2008, 12:40 PM

COÑO, COÑO, COÑO, COÑO!!!!!!!! (Sorry DL, for the copyright infringement....)

Disco Lady · 06-30-2008, 05:25 PM

COÑO!!!!!!!!!! It's O.K Bro!

freezorburn · 07-03-2008, 12:46 PM

Oil hit a new peak again today 7/3. This maddness must stop.

$145.74, up $1.41.

Oil price soars to record above $145 - CNN.com

Disco Lady · 07-03-2008, 02:53 PM

Ñoooooooooooooooooooooooooo:

mneptune · 07-03-2008, 02:59 PM

I'm really.....

Capt. JJ · 07-03-2008, 03:04 PM

this shit is killing my charter boat. I'm going to string a sail between the riggers, leave on an outgoing tide and come in on the incoming. Only use the engines to dock.

ameristrat · 07-03-2008, 04:57 PM

This sucks.... his is why I can't go swordfishing.... or anyfishing really....

NightCrawler · 07-04-2008, 12:34 PM

Quote:

Originally Posted by ameristrat

This sucks.... his is why I can't go swordfishing.... or anyfishing really....

Don't stop fishing!!! Just mix it up. I'm not going swordfishing as often, at least until the bite picks up. But still need to bend a rod.

fished the reef last night with constant rod bending action. Best of all, I burned, 2.75 gallons!!!

I know catching a bunch of slimy kings and bottom critters is not as glamorous as swordfishng, but it does feed the addiction, at least for me

06-30-2008, 09:53 AM	#1 (permalink)
freezorburn Hooked Up Join Date: Oct 2004 Location: New Jersey\Key Biscayne, FL Boat: "Norson" Custom Canaveral 28' Pilot House Best Catch: They where all the Best! Occupation: Programmer\Construction Work Posts: 416	Oil price hits new peak 6/30 Oil price hits new peak 1 hour ago The Press Association: Oil price hits new peak The cost of oil surged to a new record near 144 US dollars a barrel as oil company bosses gathered in Madrid to discuss rocketing prices. Oil soared past 143 dollars a barrel on tensions in Iran as investors also sought refuge from a weaker dollar. light, sweet crude for August delivery hit 143.67 US dollars a barrel in electronic trading on the New York Mercantile Exchange, before slipping back slightly. The new all-time high comes as the heads of oil majors such as BP and Royal Dutch Shell and a senior European Union official meet to address the World Petroleum Congress in Madrid. The conference's opening session struck a sombre tone as oil's record run continued, with speakers agreeing that prices were unlikely to return to 2005 levels. BP chief executive Tony Hayward warned against hopes that the present high prices are a bubble that will burst as they did in the 1970s, saying that supply and demand had since changed. Concerns over global supplies and tension between Iran and Israel have pushed prices higher in recent days. Oil traders reacted to reported warnings from the commander of Iran's Revolutionary Guards that Tehran would attack Israel with missiles if his country was attacked. Weekend reports also suggested that if Iran were provoked, it would move to control a key oil passageway in the Gulf. An emergency summit in Jeddah, Saudi Arabia, earlier this month, failed to ease the current oil price surge, despite the Kingdom pledging to add another 200,000 barrels per day next month to a 300,000 barrel per day production increase already announced in May. But markets were left disappointed amid concerns that more is needed for supply to keep up with demand. Last week the head of the Opec oil cartel said prices could reach as high as 170 dollars a barrel this summer. __________________ "The Sea Love Those Only Who Fear It"--KBYC-- Capt. Ken of the "NORSON"

06-30-2008, 12:40 PM	#3 (permalink)
B767 Hooked Up Join Date: Apr 2006 Location: Miami Boat: VSC, Old Hatt Occupation: Bus Driver Posts: 462	COÑO, COÑO, COÑO, COÑO!!!!!!!! (Sorry DL, for the copyright infringement....) __________________ Life on the water is good, and beer makes it better

07-03-2008, 12:46 PM	#5 (permalink)
freezorburn Hooked Up Join Date: Oct 2004 Location: New Jersey\Key Biscayne, FL Boat: "Norson" Custom Canaveral 28' Pilot House Best Catch: They where all the Best! Occupation: Programmer\Construction Work Posts: 416	Oil hit a new peak again today 7/3. This maddness must stop. $145.74, up $1.41. Oil price soars to record above $145 - CNN.com __________________ "The Sea Love Those Only Who Fear It"--KBYC-- Capt. Ken of the "NORSON"

07-03-2008, 02:59 PM	#7 (permalink)
mneptune Grander Join Date: Apr 2007 Location: Palm Beach Boat: Grady White 25' CC Posts: 1,936	I'm really..... __________________

07-03-2008, 03:04 PM	#8 (permalink)
Capt. JJ Hooked Up Join Date: May 2008 Location: Boca Raton/Boynton Beach Boat: Venture 34 "Tuna Time" Best Catch: est. 500# Sword, 400# Mako Occupation: Boat Driver Posts: 758	this shit is killing my charter boat. I'm going to string a sail between the riggers, leave on an outgoing tide and come in on the incoming. Only use the engines to dock. __________________ It's a big ocean, find your own fish Tuna Time Charters, Boynton Beach, FL www.TunaTimeFishing.com

06-30-2008, 10:42 AM	#2 (permalink)
Disco Lady Grander Join Date: Dec 2005 Location: Miami, FL Boat: 37 Merritt Best Catch: (Blue Marlin)550 Lbs ST. Thomas (North Drop) Occupation: Charter Captain and Pimp! at night. Posts: 6,326	COÑO!!!!!!!!!!!

06-30-2008, 05:25 PM	#4 (permalink)
Disco Lady Grander Join Date: Dec 2005 Location: Miami, FL Boat: 37 Merritt Best Catch: (Blue Marlin)550 Lbs ST. Thomas (North Drop) Occupation: Charter Captain and Pimp! at night. Posts: 6,326	COÑO!!!!!!!!!! It's O.K Bro!

07-03-2008, 02:53 PM	#6 (permalink)
Disco Lady Grander Join Date: Dec 2005 Location: Miami, FL Boat: 37 Merritt Best Catch: (Blue Marlin)550 Lbs ST. Thomas (North Drop) Occupation: Charter Captain and Pimp! at night. Posts: 6,326	Ñoooooooooooooooooooooooooo:

07-03-2008, 04:57 PM	#9 (permalink)
ameristrat Grander Join Date: Nov 2007 Location: Delray Beach Boat: Grady White Sailfish 28 Best Catch: Blue Marlin, White Marlin, Sailfish, Swordfish Occupation: A Student at Wake Forest University Posts: 1,055	This sucks.... his is why I can't go swordfishing.... or anyfishing really.... __________________ "Laughter is my soul's release, but we're not smiling anymore. And can't we try to win this peace? Cause' we're never gonna win this war."

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