Oil At $100? It’s No Longer A Pipe Dream

Last May, Goldman Sachs (GS) raised eyebrows on Wall Street by releasing a report warning that crude oil could see a “super spike,” with prices reaching as high as $105 per barrel. And now? Well, the price of the front-month crude contract on the New York Mercantile Exchange is averaging above $65 per barrel for the year to date, after hitting an all-time high on Apr. 21 of $75.35. While crude prices have pulled back somewhat since then, it seems the Goldman warning may not be so far from reality after all.

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