×

See What People Are Saying About... Oil's Stopping Point

graphic_fast_money.jpg

Oil prices leapt to a new peak of more than $126 a barrel on Friday, hitting a record for the fifth straight session, in a market given an additional spur by tight supplies of diesel.

"Oil will go to $ 200 easily (because) the world will not change its consumption behavior, said Fast Money viewer William L. who lives in Singapore. "The world needs to reduce consumption."

Meanwhile, oil's relentless rise has once again turned the spotlight on Organization of the Petroleum Exporting Countries (OPEC), which has for months resisted demands for more oil to try to tame prices.

On Friday, an OPEC source said the exporters' group might consider whether to boost output before its next scheduled meeting should crude oil prices keep rising.

"Oil will and should reach $200 to stop wasteful practices and bring on new technologies," adds Fast Money viewer Bruce T.

That leads to our Fast Money Reader Poll. At what price do you think crude will begin to level off?



______________________________________________________
Got something to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! Prefer to keep your comments private? Send those questions and comments to fastmoney@cnbc.com.