wOw- Oil up $11 to $138.53 per barrel, Oh me Oh my....
DOW JONES down 403.53 Points. There may be some bargains coming for the ELK. Hold on to your hats.....
NEW YORK (CNNMoney.com) -- Oil prices shot up nearly $11 a barrel and settled Friday at a record $138.54 - driven by geopolitical jitters, a dollar decline stemming from a weak jobs report and a forecast that oil would hit $150 by July 4.
Friday's spike in the July contract for light crude on the New York Mercantile Exchange marks the largest singe-day increase in oil prices on record. The contract hit an intraday record of $139.12, breaking the previous trading record of $135.09.
ELK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held