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Oil finally tops $100/bbl

01/14/2008
For the first time ever, a front-month crude contract hit $100/bbl Jan. 2 before closing at $99.62/bbl, up $3.64 for the day in the initial trading session of 2008 on the New York Mercantile Exchange. The previous intraday high for front-month crude was $99.29/bbl Nov. 21.The February contract climbed to $100.09/bbl Jan. 3 on NYMEX before slipping to a $99.18/bbl close. However, Olivier Jakob of Petromatrix GMBH, Zug, Switzerland, claimed the Jan. 3 record marked “the first real attempt to break the [$100/bbl] mythical level,” since the Jan. 2 sale “was only a controversial one-lot transaction done on the floor away from computer trading.” Jakob said, “The th...
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