Re: Oil jumped $5 barrel today on "rumors" .. Imagine if the Butcher gets drunk?
Really??? that is what it jumped to ....
Source: CNN Money
Oil spikes $5 on rumors of Iran attack
After-hours contract briefly jumps 8 percent on rumors that Iran fired on U.S. warships; navy denies story, crude falls from highs.
March 27 2007: 9:15 PM EDT
NEW YORK (CNNMoney.com) -- U.S. crude futures briefly spiked over $5 a barrel in electronic trading late Tuesday on rumors that Iran fired on U.S. Navy warships. Crude gave up most of those gains according to one trader after reports of a confrontation were denied.
U.S. light crude for May delivery jumped $5.18, or about 8 percent, to $68.91 a barrel in electronic trading before giving back most of those gains to trade at $64.40 a barrel, $1.47 above Tuesday's settle price on the New York Mercantile Exchange.