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Oil price at $100 may be months away, not years

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Oil price at $100 may be months away, not years

Unread postby Ferretlover » Tue 24 Jul 2007, 09:17:04

$this->bbcode_second_pass_quote('', 'L')ONDON: The $100-a-barrel oil that Goldman Sachs Group said would prevail by 2009 may be only a few months away. Jeffrey Currie, a London-based commodity analyst at the world’s biggest securities firm, says $95 crude is likely this year unless Opec unexpectedly increases production, and declining inventories are raising the chances for $100 oil. Jeff Rubin at CIBC World Markets predicts $100 a barrel as soon as next year.
“We’re only a headline of significance away from $100 oil,” said John Kilduff, an analyst in the New York office of futures broker Man Financial. “The unrelenting pressure of increased demand has left the market a coiled spring.”
New disruptions of Nigerian or Iraqi supplies, or any military strike against Iran, might trigger the rise, Kilduff said. Higher prices will increase revenue for energy producers from Exxon Mobil to PetroChina Co, while eroding profit at airlines including EasyJet and railroads such as Union Pacific Corp. The US and other oil-importing nations risk accelerating inflation, while higher energy costs threaten to restrain growth.
Benchmark crude oil futures ended last week at $75.57 a barrel on the New York Mercantile Exchange, up 51% since mid-January and twice the level of early 2003. A record number of options have been sold that give the buyer the right to buy crude oil at $100.
The contracts, covering 50 million barrels, only pay off should oil go above the target price. Arjun Murti, a New York-based Goldman Sachs analyst who covers oil producers and refiners, roiled markets in March 2005 with a report saying prices could touch $105 a barrel during a ‘super spike’ period because demand was stronger than anticipated. Price swings might also go as low as $50, Mr Murti said at the time.
Currie, Goldman’s global head of commodities research in London, is predicting that oil prices will probably touch a record and stay at unprecedented levels for months or years. The all-time high for Nymex crude futures is $78.40 a barrel on July 14, 2006. …

Edit: shortened link to fit page by mods. Entire Article here.
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Re: Oil at $100 may be months away, not years Economic Times

Unread postby Niagara » Tue 24 Jul 2007, 09:21:00

Dammit, use the short link tool please!! [smilie=BangHead.gif]

[smilie=eusa_clap.gif] [smilie=5thanks.gif]
Last edited by Niagara on Tue 24 Jul 2007, 11:25:32, edited 1 time in total.
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Re: Oil at $100 may be months away, not years Economic Times

Unread postby Ferretlover » Tue 24 Jul 2007, 09:24:16

I don't know how! Would you please teach me how to do that?
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Re: Oil at $100 may be months away, not years Economic Times

Unread postby Roccland » Tue 24 Jul 2007, 09:33:17

Click the green globe with "link" on the tool bar.

A dialouge box will open on your screen.

Populate the space in that box with the web link you want to post...hit ok...the space will then ask you for a title ...populate that space with your title...hit ok.

Then post.

To post a picture...find a picture on the web...right click over it...then pick "properties" on the menu...a box will open...copy the URL from within that box...come back to your post ...click the mountain with sun icon on the tool bar...a dialouge box will open...paste your picture URL into this box and hit ok.

Then post
500 MPH into a brick wall - me
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Re: Oil at $100 may be months away, not years Economic Times

Unread postby Last_Laff » Tue 24 Jul 2007, 09:37:37

Scroll, scroll, scroll all the way to the right
Grumpily looking down the screen
sneeringly, sneeringly, sneeringly, sneeringly
Life is but a fright
"Panic is not a strategy." - BigTex
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Re: Oil at $100 may be months away, not years Economic Times

Unread postby Ferretlover » Tue 24 Jul 2007, 09:43:06

Thank you, Roccland!
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Re: Oil at $100 may be months away, not years Economic Times

Unread postby jboogy » Tue 24 Jul 2007, 10:07:23

How do I find my "toolbar" Rocc?I have aol and windows xp .I was able to get ferrels post by widening the window,you can put your cursor on the edge and little sideways arrows appear,I then click my mouse and move the arrows sideways and the window widens,I don't know if it works on all computers. We're one or two incidents away from extreme price volatility on oil.They say "may you live in interesting times", well guess what,I think extremely interesting times are right around the corner.
Perhaps the population would be less swayed to socialism if we had fewer examples of socialism from our "Free Market Capitalists". -----fiddler dave
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