Crude oil for April delivery rose $1.77 to settle at $108.84 a barrel on the New York Mercantile Exchange before extending gains after the floor closed. The price was $109.99 at 3:36 p.m. in New York. Futures have dropped 0.8 percent this week after reaching a nine-month high of $109.77 on Feb. 24.
Brent oil for April settlement climbed $3.54, or 2.9 percent, to a 10-month high of $126.20 a barrel on the London- based ICE Futures Europe exchange. Brent rose as high as $128.40 after the settlement and dropped back to $127.79 at 3:36 p.m. Futures rose 1.7 percent in regular trading as U.S. officials escalated warnings that the nation may join Israel in attacking Iran to stop the development of nuclear weapons and on economic reports signaling growth. Read full story here: News New Mexico
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It will be interesting to see if the electorate has the collective intellect to make the connection between the Obama administration's energy objectives and high gas prices that are crushing Americans. This administration foolishly believes the Chevy Volt and prohibitively expensive green energy is the solution to everything. Despite how shamefully uninformed the voters are, the media plays a huge role as well. Studies show that FOUR TIMES as many articles were written when gas prices escalated to their highest levels during the Bush years. Essentially, the media has deliberately orchestrated a cover-up of this administration's asinine energy policies that are choking our economy. How much does a gallon of gas have to cost before this president is held accountable? Will it be $5.00 a gallon...$10.00?
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