Crude Oil = $108

by: Barry Ritholtz

Crude futures moved further into uncharted territory, with oil gaining momentum in defiance of a decline in other commodities.

Light, sweet crude for April delivery rose $2.75, or 2.6%, to $107.90 a barrel on the New York Mercantile Exchange, a settlement record. The front-month contract hit an intraday high of $108.21, marking the ninth out of the last 10 sessions in which a record was set.

Crude Oil April 2008 Futures

Crude-Oil Futures Soar To Another High, $107.90
WSJ, March 11, 2008