Stock Photo (Best Syndication) The price per barrel of oil has skyrocketed over the past few months and then softened slightly last week but then soared to a new all time high today reaching 138.99. As of 3pm on Friday the price of a barrel of oil spiked $11.20 on the Nymex Crude Future market. The rise came after an announcement by Morgan Stanley that prices could hit $150 a barrel by July 4th. Oil may “spike” because “Asia is taking an unprecedented share” of Middle East exports, Morgan Stanley analyst Ole Slorer said today. The U.S. government is borrowing hundreds of billions of dollars from Asian countries to finance the wars in Iraq and Afghanistan driving the dollar down even further. read more ...
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Stock Photo (Best Syndication) The price per barrel of oil has skyrocketed over the past few months and then softened slightly last week but then soared to a new all time high today reaching 138.99. As of 3pm on Friday the price of a barrel of oil spiked $11.20 on the Nymex Crude Future market. The rise came after an announcement by Morgan Stanley that prices could hit $150 a barrel by July 4th. Oil may “spike” because “Asia is taking an unprecedented share” of Middle East exports, Morgan Stanley analyst Ole Slorer said today. The U.S. government is borrowing hundreds of billions of dollars from Asian countries to finance the wars in Iraq and Afghanistan driving the dollar down even further. read more ...