Posted on March 22, 2005 by site admin

USA Today wonders how long Wall Street will remain blase about oil prices?

Adam Shell reports:

NEW YORK — $50 oil has not turned out to be a major depressant on stocks after all. But what about crude at $60 per barrel? $65? $70?
Or how about $80, which would roughly match the inflation-adjusted peak hit in 1981?

Crude, which jumped 32 cents Friday to a record high of $56.72, is flirting with the “Big Six-O.”

Until now, stock prices have remained stubbornly solid, despite the fact analysts had much lower crude prices plugged into their stock valuation models at the start of the year.