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Oil kicks off year by hitting $100 brl

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  • Oil kicks off year by hitting $100 brl

    Oil kicks off year by hitting $100

    Violence in Nigeria, supply disruption in Mexico and the prospect of another drop in U.S. inventories and more rate cuts drive crude to triple digits.

    By Steve Hargreaves, CNNMoney.com staff writer

    January 2 2008: 4:23 PM EST


    Oil prices topped $100 a barrel Wedesday as violence in Nigeria pushed an already nervous market over the triple digit mark.


    NEW YORK (CNNMoney.com) -- Oil prices kicked off 2008 by hitting $100 a barrel for the first time Wednesday, with violence in oil-rich Nigeria, the prospect of more interest rate cuts, a halt in Mexican imports and talk of yet another drop in U.S. crude supplies contributing to the milestone.

    Full article here:
    Oil kicks off year by hitting $100
    Oil's wild ride

    Aren't you glad you drive CNG?
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