Oil hits another new high

Concerns about supply disruptions and tension in the Middle East sent crude oil prices to a new record in early morning trading.
JUN 30, 2008
By  Bloomberg
Concerns about supply disruptions and tension in the Middle East sent crude oil prices to a new record in early morning trading. The price for a barrel of light, sweet crude oil rose $3.46 to a record $143.67 in electronic trading on the New York Mercantile Exchange this morning, on concern that Israel may launch attacks against Iran over its nuclear program, thereby disrupting supply from the second-largest producer in the Organization of the Petroleum Exporting Countries. Crude oil prices eased later in the day, closing down 21 cents to $140 per barrel. The Hague, Netherlands-based Royal Dutch Shell PLC said today that there were no attacks on its oil flow stations in Nigeria over the weekend, following local media reports of military clashes with militants near its facilities, according to a Reuters report. The average U.S. gasoline price hit a new high of $4.086 per gallon today, surpassing the previous record of $4.08, reached on June 16, according to a daily survey by the American Automobile Association of Heathrow, Fla. On Friday, crude oil futures ended the day at $140.21, marking the first-ever close over the $140-per-barrel mark.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.