February 20, 2008
Bernanke’s Policies Greasing the Wheels
“Yesterday, futures soared $4.51, or 4.7 percent, to settle at $100.01 a barrel on the New York Mercantile Exchange. It was a record closing price and the first time Nymex futures have closed above $100 a barrel. Futures reached $100.10, the highest intraday price since trading began in 1983.”
Yet another unintended effect of Gentle Ben’s reflation / bank bailout plan.
Related: Checking Up on Crude Earl & the Yeller Metal - January 3, 2008
Cat: | Time: 9:45 am (utc+8)