NEW YORK (Jan. 2) - Crude oil prices soared to $100 a barrel Wednesday for the first time, reaching that milestone amid an unshakeable view that global demand for oil and petroleum products will outstrip supplies.
After months of flirting with the $100 per barrel price tag, it's violence in Nigeria's oil center, Port Harcourt, that gets the credit in the end for pushing the market to a new record.
This article is from AP.
What does it mean for us here in the Gulf?, and where is the price of a barrel headed?