[Ost-news] Oil Hits $100 a Barrel for the First Time

[Oil Sands Truth: Shut down the Tar Sands - social and environmental impacts of tar sands heavy oil projects across North America]

January 2, 2008  
Oil Hits $100 a Barrel for the First Time  
By JAD MOUAWAD

Oil prices reached the symbolic level of $100 a barrel for the first  
time on Wednesday, a long-awaited milestone in an era of rapidly  
escalating energy demand.

Crude oil futures for February delivery hit $100 on the New York  
Mercantile Exchange shortly after noon New York time, before falling  
back slightly. Oil prices, which had fallen to a low of $50 a barrel  
at the beginning of 2007, have quadrupled since 2003.

Futures settled at $99.62, up $3.64 on the day.

[read more][1]

    [1]: http://oilsandstruth.org/oil-hits-100-barrel-first-time

URL: http://oilsandstruth.org/oil-hits-100-barrel-first-time