Oil prices continue to surge upwards.


	Oil prices continue to surge upwards.

moneymerc

5-7-2008 10:13 PM

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tags:

us recession, fuel prices, economy, fossil fuels

moneymerc says:

Past $123 a barrel and already $4/gallon at the pump for Cali and Hawaii, the rise in fuel prices have no signs of relenting. Ditch the SUV and get one of those hybrids.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/1bcc3b91-6bb1-4225-9fd1-72390192d484/0A4B5544-9A4E-4F39-9A26-B88B99D57F93/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://biz.yahoo.com/ap/080507/oil_prices.html" href="http://biz.yahoo.com/ap/080507/oil_prices.html" style="font-size: 11px;">biz.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/ap/080507/oil_prices.html">NEW YORK (AP) -- Oil futures extended their seemingly relentless advance Wednesday, rising to a new record near $124 a barrel as investors captivated by the market's upward momentum looked past the government's report of an increase in crude and gasoline supplies. At the pump, gas prices rose for the first time since last week.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/ap/080507/oil_prices.html">Analysts attributed oil's rise to continued buying from the surge that pushed prices past $120 for the first time earlier this week. The fact that prices didn't decline sharply after the inventory report was released signaled to some investors that the market was ripe for another rally.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/ap/080507/oil_prices.html"><P>Some analysts predict prices could rise to a national average of $4 in coming weeks; prices are already that high in some areas, including parts of Hawaii and California.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/ap/080507/oil_prices.html"><P>"All bets are off if oil keeps going up," Flynn said. "Gas prices could keep rising."</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/0A4B5544-9A4E-4F39-9A26-B88B99D57F93/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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