Oil price jumped US$11/bbl Friday night

Oil price jumped US$11/bbl Friday night to a record US$139/bbl
Record jump same as entire barrel of oil 10 years ago
What might it mean for price at pump
Our estimates are if US$139/bbl sustained and NZ$ stays at 76 US cents
Then Regular will rise to $2.18 a litre
Up 18 cents or 9%
RBNZ sees oil below US$100/bbl by 2011
Meanwhile QV figures out today show house prices down 1.5% in last 3 mths
Urban areas down 2.8%, Wlg down 4.6%
Auckland down 1.8%/RBNZ sees 13%

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[linuxluver]

Sorry...the attack was to be on Iran...not Israel.

[linuxluver]

Shaul Mofaz, Israeli Transport Minister and liason with the US over Iran, said that an attack on Isral was "Unavoidable". Oil markets went nuts. Since then, Israel and the US have not backed Mofaz's statements, saying instead they are committed to diplomacy. Mofaz hopes to succeed PM Ehud Olmert should the latter be required to step down to a corruption sandal, as appears likely.