Tuesday, October 16, 2007

Oil futures are at $88 dollars a barrel

If anyone needed convincing about the inflationary spiral we are now in, just take a lool at oil prices. Today, oil futures increased to a new record of $88 a barrel.

Light, sweet crude for November delivery rose $1.94 to $87.07 a barrel on the New York Mercantile Exchange Tuesday after rising as high as $88.20 earlier, a trading record.