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BetUS.com posts odds on oil prices

29 Oct 2007

NEW YORK -- (PRESS RELEASE) -- Oil prices have risen to $91.86 a barrel on the New York Mercantile Exchange. This represents the newest record-breaking price of crude oil with no end to further increases in sight.

Oil futures have risen to nearly $7 a barrel, or 8 percent, since the government reported on Wednesday a sharp drop in crude inventories in the United States. Other petroleum futures also rose Friday. November gasoline rose 3.82 cents to settle at $2.274 a gallon on the Nymex, while heating oil futures rose 2.41 cents to settle at $2.4325 a gallon.

With oil fears rising as exponentially as the cost, BetUS.com, the largest and most respected sportsbook on the web, posted odds on the future of oil prices.

"It is sad how dependent humans are on oil. I guess it's a supply and demand situation. We need it and they raise the price on it," stated BetUS.com spokesman Reed Richards. "As history has shown us, with passing time comes price change. A Coke-a-Cola was a nickel at one point."

Price of Crude Oil on 31-12-07
Fri 11/2  11:11AM (EST)

1   $83.99 or Under       +800
2   $84 - $85.99 Inclusive       +400
3   $86 - $87.99 Inclusive       +300
4   $88 - $89.99 Inclusive       +225
5   $90 - $91.99 Inclusive       +175
7   $92 - $93.99 Inclusive       +150
8   $94 - $95.99 Inclusive       +200
9   $96 - $97.99 Inclusive       +300
10   $98 - $99.99 Inclusive       +500
11   $100 or over       +1200

* Note: Graded as per Nymex Crude Future price per Barrel on the NY
Stock Exchange
 
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