I thought I would mark this occasion in TOD ANZ history:

Today, Wednesday 7th November 2007, the price of TAPIS oil produced in Malaysia and used as the Asian regional benchmark hit $100 per barrel, as published by Upstream Online:

http://www.upstreamonline.com/market_data/?id=markets_crude

Here is how the table of oil prices looked at 3:40pm Australian Eastern Summer Time (AEST):

You can also see the run in prices that has occurred over the last four weeks (this chart in Australian dollars):

http://www.aip.com.au/pricing/marketwatch.htm

Now we wait and see whether WTI reaches the same milestone this week. Will the world react or will we keep sleepwalking into our future? No doubt this would be more of an issue in Australia and New Zealand if the local currencies weren't so strong.