"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Thursday, September 20, 2007

Crude oil reaches highest price ever US $83.84 a barrel

Crude oil for October delivery rose US$1.91, or 2.3 % to US$83.84 a barrel at the 2:30 p.m. close of floor trading on the New York Mercantile Exchange.

October Futures (last day of the account) touched $83.90, the highest since the contract began trading in 1983. Prices are up 39 % over the last 12 months.

The more-active November contract was up 95 cents, or 1.2 percent, at $81.80 a barrel.

U.S. Minerals Management Service said production in the Gulf of Mexico was shut because of a storm threat reducing output by more than 360,000 barrels, or 28%, of daily oil production .

U.S. crude-oil supplies fell 3.87 million barrels in the week ended Sept. 14, the 10th drop in 11 weeks, the Energy Department reported yesterday.

Pic ? Heavy Ethannol user - first to identify gets a free barrel of oil.

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