Never ending saga

The never ending saga continues as we are daily informed of the world crude situation and as readers are aware this topic has a minute by minute news development so after easing early last week, oil prices resumed their march toward the $100 mark after data showed a sharp drop in U.S. crude stocks, the U.S. dollar plumbed new lows and tension mounted between Turkey and Kurds in northern Iraq.
So now we have all these major worries to ad to smaller events that arecontinuing to add a premium to oil prices..
Oil leapt to a record high for a third day on Monday (29-10-2007),passing $93 as Mexico's state-owned oil company Pemex briefly halted one-fifth of its production about 600,000 barrels per day (bpd) of oil output due to bad weather in the Gulf of Mexico and the U.S. dollar struck new lows.

U.S. crude, hit a high of $93.20 a barrel earlier today 5:22 a.m ...
A Pemex spokesman informed they should be able to resume output immediately once the cold weather passed in two days. Mexico's three main export terminals were shut on Sunday.