Monday, June 16, 2008

Chronicles Of Depression 2.0: #125

Oil surges to new record high near $140 a barrel
LONDON (Reuters) - Oil surged to a new record high on Monday of nearly $140 a barrel, propelled by weakness in the U.S. dollar which offset the bearish impact of plans by Saudi Arabia to boost output.

U.S. light, sweet crude for July delivery was up $3.74 at $138.60 a barrel by 1317 GMT, after falling as much as $1.40 a barrel, or about 1 percent, earlier in the session.

U.S. crude set a record high of $139.89 a barrel.

I am tired of recording this.

But I will continue.

Someone needs to show the footprints of our walk into disaster.

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