Oil Prices Rise

Oil prices in the United States rose to over sixty-one dollars per barrel as a heavy winter storm plowed from the Midwest to the Northeast. The storm dumped as much as two feet of snow in New York and Northern New Jersey. Due to the massive storm, prices for heating oil were driven to an all time high since December (over eight dollars more). The gasoline inventory which was released by the American Inventory showed that gas reserves were at an all time low. The head of the Libyan Oil Industry, Shokri Ghanem says he believes our oil prices will remain around sixty dollars per barrel for the rest of 2007.

--Josh Rumohr, World News Editor