Oil and Natural Gas Investing News
A brief pullback to around $122 a barrel early in the week fooled a few investors into thinking perhaps oil’s peak had passed.
But oil exploded on Thursday and Friday, gaining a ridiculous 13% on the New York Mercantile Exchange in two days to trade at $137.08. And some are saying, enough is enough.
Morgan Stanley Analyst Calls For $150 Oil
Oil prices sharply reversed a midweek decline, ending the week Friday with a $10.75 leap to a record $138.54 a barrel, buoyed in part by a Morgan Stanley analyst's prediction that $150 oil will accompany Fourth of July fireworks.
G-8 Urges Investment In Energy Infrastructure
The world's top industrialized nations and leading oil consumers pledged Sunday to fight skyrocketing energy prices by increasing efficiency and accelerating investment in new technologies, while urging producers to expand production.
