Oil sets record near $128; pump price at high, too
NEW YORK(AP) — News that Saudi Arabia had boosted its oil output by 300,000 barrels a day was greeted as a non-event on oil markets — the move wasn’t anywhere near the kind of production increase needed to bring prices down on Friday.
And traders were equally unimpressed by the U.S. government’s plan to stop adding to the Strategic Petroleum Reserve.
One day, two moves designed to allay concerns about an overheated oil market that’s squeezing motorists and inflating the prices of all sorts of goods.
The response in the oil trading pits? Traders did what they’ve been doing for months now, and pushed crude oil and gasoline futures to new highs.
‘‘All in all, we’re seeing another strong move here on little fundamental news,’’ said Jim Ritterbusch, president of Ritterbusch & Associates, an oil trading advisory firm in Galena, Ill.
Obama criticizes McCain for ’naive’ foreign policy
WATERTOWN, S.D.
» Full StoryMcCain courts NRA, makes gun shop visit
LOUISVILLE, Ky.
» Full StoryFlorida, Michigan cannot save Clinton
WASHINGTON (AP) — Michigan and Florida alone can’t save Hillary Rodham Clinton’s campaign.
» Full StoryNew commission to study WMDs announced
WASHINGTON (AP) — Soon after taking office, the next president will get some advice about how to prevent a nuclear attack on the U.S.
» Full StorySurprise rebound in housing, outlook still shaky
WASHINGTON (AP) — Construction of new homes increased by the biggest percentage in more than two years in April, a rare spot of good news amid the worst downturn in housing in more than two decades.
» Full Story
GYBSA Red Sox vs. Astros
State track previews
North Tama Awards Night
NTJH Conference Track Meet
STc vs, Knoxville 5-13-08
MHS girls tennis invitational
MHS boys soccer vs. WDM Valley
MHS girls tennis v Cedar Falls