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Surprise! Oil Prices Shoot Up

http://ap.google.com/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD8UTJFM00

Oil prices are above $100 a barrel for the first time since January, setting a new record at $100.10.

There was no single driver behind oil's sharp price jump; investors seized on an explosion at a 67,000 barrel per day refinery in Texas, the falling dollar, the possibility that OPEC may cut production next month, and continuing tensions between the U.S. and Venezuela.

Associated Press; February 19, 2008

Submitted by B. Shapiro

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This page contains a single entry published on February 19, 2008 10:51 PM.

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