NYMEX light sweet crude for September delivery up almost seven dollars a barrel today to close at $43.80/bbl. That's the nominal (not taking inflation into account) all-time high. I could guess that some of that price hike reflects speculative buying on fears of supply interruption due to war. Russian government is beating up on Russia's biggest producer, YUKOS. Stockholders may end up being virtually expropriated. ("Hey! They can't do that! That's....communism.") I'll guess that that's another, but lesser, factor. I could guess that that effects will spill over into equities markets in the USA and elsewhere. Automobile manufacturers, commercial airlines, tourist cruise operators might be particularly vulnerable. http://quotes.ino.com http://www.bloomberg.com Caveats: I'm not a registered investment adviser. Nothing here is investment advice. Anybody crazy enough to trade on my opinions/feverish ravings deserves whatever happens. Do your own due diligence and investigate before you invest.