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Wager on Wall Street's Rising Crude Oil Prices (10-29-07) |
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Written by Robert Johnson
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Monday, 29 October 2007 |
 If you care to wager on Wall Street, BetUS has this proposition wager for you. Oil prices have risen to $91.86 a barrel on the New York Mercantile Exchange. This represents the newest record-breaking price of crude oil with no end to further increases in sight. Oil futures have risen to nearly $7 a barrel, or 8 percent, since the government reported on Wednesday a sharp drop in crude inventories in the United States. Other petroleum futures also rose on Friday. In November gasoline rose 3.82 cents to settle at $2.274 a gallon on the Nymex, while heating oil futures rose 2.41 cents to settle at $2.4325 a gallon. With oil fears rising as exponentially as the cost, BetUS.com , the largest and most respected sportsbook on the web, posted odds on the future of oil prices. "It is sad how dependent humans are on oil. I guess it’s a supply and demand situation. We need it and they raise the price on it,” stated BetUS.com spokesman Reed Richards . “As history has shown us, with passing time comes price change. A Coke-a-Cola was a nickel at one point.” What will the Price of Crude Oil be on 31-12-07? Here are the odds: as of Fri 11/2 11:11AM (EST) - $83.99 or Under +800
- $84 - $85.99 Inclusive +400
- $86 - $87.99 Inclusive +300
- $88 - $89.99 Inclusive +225
- $90 - $91.99 Inclusive +175
- $92 - $93.99 Inclusive +150
- $94 - $95.99 Inclusive +200
- $96 - $97.99 Inclusive +300
- $98 - $99.99 Inclusive +500
- $100 or over +1200
* Note: Graded as per Nymex Crude Future price per Barrel on the NY Stock Exchange www.BetUS.com
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Last Updated ( Tuesday, 30 October 2007 )
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