$52 Is Not A Bound!

Crude oil futures soared above $52 a barrel Wednesday. The reasons believed are the potential strike of Nigerian oil workers, unstable petroleum output in the Gulf of Mexico after the hurricane named Ivan, because many pipelines were damaged.
Americans were warned by the federal energy agency that they would have to pay more for their heating bills this winter due to twofold price increases for heating oil and gas.
At NYMEX, New York, November Light sweet crude futures rose 93 cents to $52.02 a barrel, a record settlement high. In London?s IPE, Brent crude futures for November climbed 86 cents at $47.99 a barrel.
Thursday in Asian trading crude oil reached a new all-time high, rising to $52.23 per barrel.