Oil > $120

Monday, May 05, 2008 | 11:36 AM

While some traders feared that the dissolution of Yahoo would impact the market negatively, it appears that the $4 pop in Crude is the bigger issue.

This morning Crude Oil broke over $120, to set a new record, as reported by Briefing.com and Bloomberg COMDX ("Crude moves above the $120 level, now up $3.74 to $120.06").

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Crude Oil June 2008

Crude_oil_jun_futures

Source Bar Charts

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You can get the most recent futures data via bar charts (including intraday prices)

Monday, May 05, 2008 | 11:36 AM | Permalink | Comments (37) | TrackBack (0)
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Comments

Come on now ... even the longterm oil bulls, have to understand that this is a bubble. I would be willing to bet that a good chunk of the pros are shorting oil (all commodities) now.

Posted by: Donny | May 5, 2008 11:52:36 AM

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