http://www.aidlenet.info A mumbo jumbo website blogger with huge web dream! Wed, 19 May 2010 10:08:51 +0000 en hourly 1 http://wordpress.org/?v=abc http://www.aidlenet.info/2008/02/21/digg-news/oil-sustains-at-us100 http://www.aidlenet.info/2008/02/21/digg-news/oil-sustains-at-us100#comments Wed, 20 Feb 2008 16:00:39 +0000 Aidle http://www.aidlenet.info/wordpress/?p=426
Oil prices hit new record highs Tuesday as a Texas refinery fire and fears of an OPEC production cut pushed crude to settle at over $100 a barrel for the first time ever.

U.S. crude for March delivery jumped $4.51 to settle at $100.01 a barrel on the New York Mercantile Exchange, topping the previous settlement record of $99.62 set Jan. 2.

Oil also hit a new all-time trading high of $100.10 a barrel, besting the previous high of $100.9 set Jan. 3.

A weekend refinery explosion in Texas and the possibility that OPEC will cut production next month are driving prices higher, although analysts say there isn’t a single factor to explain the move. [Read More]

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