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Measuring ‘extreme’ oil prices

03/24/2008
By NINA RACH
For seven sessions Mar. 5-13, the front-month crude contract consecutively set record high prices on the New York Mercantile Exchange as the US dollar fell to record lows vs. the euro and a 12-year low against the Japanese yen.Crude climbed to an intraday high of $111/bbl Mar. 13 prior to a record $110.33/bbl closing as the weak dollar prompted investors and speculators to put their money into commodities like oil and gold, which for the first time hit $1,000/oz.Adam Sieminski, chief energy economist for Deutsche Bank in New York, and Michael Lewis, the bank’s head of global commodities research in London, issued a report Mar. 14 outlining several measures to examine how far oil pri...
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