Update!!:As we speak now the Nymex WTI oil price had touched briefly hit another record of $103.05!! (Thanks Lowem)
According to Yahoo!News:
Oil vaulted more than 3 percent a barrel on Thursday to an all-time peak near $103 — eclipsing the previous inflation-adjusted high set 28 years ago — after a fire hit a major European natural gas terminal and the U.S. dollar fell to a record low.
This means there might be a correction after the repairs are done, however we cannot let the guard down. This obviously will pressure OPEC to release more supply into the already very tight oil market.
The roller-coaster ride of up and down began right now, the wave of Tsunami after another drop in oil prices will be repeated constantly. Do look out for hyper-inflation and bank run…hopefully you guys are well prepared mentally for this.
Red Numbers are everywhere, now. This might be an opportunity for shorting but be prepared for high commodities fluctuation. Gold touched $970.60 and will go almost identical fluctuation with Nymex oil.
Go to Livecharts.co.uk for real time charts for WTI Crude Oil and Gold.
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