Crude Surges Above $100

By Douglas A. McIntyre Updated Sep 17, 6:25AM EDT · Published Sep 15, 7:22AM EDT

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The price of NYMEX traded crude moved above $100, on the heels of the Fed’s QE3 announcement and civil unrest in the Middle East — much of its against U.S. interests. The price reached an intraday high of $100.42. While the effects of the Fed’s decision may dissipate, problems in the Middle East are not likely to — at least for now. The violence has spread to Libya, Egypt, Afghanistan, Tunisia and the Sudan.

The New York Times reports that protests have begun near U.S. diplomatic building in Germany and the U.K.

And problems between Israel and Iran over the latter’s arms program are hardly settled. The Israeli government continues to press the U.S. for specifics on benchmarks for the activities of the Iran weapon’s development projects. At some point, Israel want the U.S. to act in concert with it to attack Iran.

The effect on U.S. gas prices continues. The price of an average gallon of regular nationwide was $3.867 up from $3.710 a month ago. In some large states which include California and New York, the price is already above $4.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.