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Dollar fear sparks rush to oil and gold

The $100-a-barrel level was reached as the result of a single trade by two independent traders - known as locals - at the Nymex floor, industry sources said.

Before the trade, oil prices were at $99.53 a barrel. In spite of the controversy about the single trade, crude oil closed up $3.64 at $99.62 a barrel in New York. The White House said President George W. Bush would not tap the Strategic Petroleum Reserve and was focused on other ways to boost US oil supplies.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Wed Jan 2nd, 2008 at 08:34:00 PM EST

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