see also this article from bloomberg, goldman just changed their prediction to $85/barrel by year end Benchmark crude for July delivery was up $3.35 to $69.47 a barrel on the New York Mercantile Exchange. Oil climbed as high as $69.56 earlier in the day. Oil prices, which have rallied for three months, soared this week to their highest levels since November. Crude now fetches nearly twice its February price, mostly on the expectation that the dismal U.S. economy could be stabilizing.
Oil rises to new high for 2009
Jun 4 12:21 PM US/Eastern
By CHRIS KAHN
Oil prices on Thursday set a new high for the year, buoyed by a weaker dollar, the first drop in unemployment numbers since January, and renewed expectations that crude will extend its rally this year.
No I am plenty excited too G. Comes with being a Petro Engineer.
ReplyDeletehaha, glad to hear it, not a lot of petro engineers up here in boston.
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