Oil Trades Over $100, Psychological Barrier Breached

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In case you haven't been paying attention to the day to day Wall Street news tickers, oil briefly traded over the dreaded $100 per barrel mark yesterday. NPR reported this morning it may have been traded on by as few as two traders at that price but it was enough of a scare for prices to quickly retreat back down to close at $99.62. But now that it's been done, we're betting it will be a matter of days before it closes above the century mark, then it's Katy bar the door. Guess that's what happens with a weak dollar and shenanigans in oil-producing countries.[Reuters.com]

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