Job 33

THE BUBBLE GOES UP...

Crude futures climb past $82 to uncharted territory

SAN FRANCISCO (MarketWatch) -- Crude-oil futures moved further into uncharted territory late Tuesday afternoon by topping $82 a barrel in electronic trading, buoyed by ongoing concerns over potential storm risks in the Gulf of Mexico, expectations for fall in U.S. supplies and bets that the Federal Reserve's decision to cut interest rates will help boost energy demand.
"With a typical disturbance that could become a Gulf hurricane, a full half-point drop in the Fed's target rate and concern that there will be another drop in gasoline stocks tomorrow, crude had no way to go but up," said James Williams, an economist at WTRG Economics. MARKET WATCH