NYMEX Crude Oil New Intraday High

Calendar January 2, 2008 | Posted by Jorge

The NYMEX Crude Oil hit a new intraday high of $99.54. $100 a barrel appears inevitable at this point. The markets are currently down almost 200 points and interesting enough, the solar industry is down on the day as well. One would think, as previously seen, with a rise in oil prices, alternative energies such as solar (FSLR, ESLR, SOLF an exception) would be trading higher. Do we hit $100 with oil futures this afternoon? I wouldn’t be surprised. How much higher oil goes once it does break $100 is anyone’s guess.  I wouldn’t be surprised to see oil march toward $105 or even $110 soon.

Update:  It appears that oil ever so briefly touched $100 a barrel.  Futures contracts are currently hovering around $99.50

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