Phil

Tapis is trading over $118 a barrel this evening.

http://www.upstreamonline.com/market_data/?id=markets_crude

Can it make $120 by Friday???

Aussie is not strenghening sufficiently to moderate the price increases.

RBA has not got inflation under control as some seem to think.

http://business.smh.com.au/more-rba-rate-rises-unlikely-in-2008/20080415...

The real story is the diesel price.

West Texas already up at a new high this morning (UK time). I expect it may get higher when the yanks get to work.