PeakOil is You
$20 January Oil - Bloomberg
First unread post • 2 posts
• Page 1 of 1
$20 January Oil - Bloomberg
by Keith_McClary » Tue 09 Dec 2008, 03:14:30
-
Keith_McClary - Light Sweet Crude
- Posts: 7344
- Joined: Wed 21 Jul 2004, 03:00:00
- Location: Suburban tar sands
Re: $20 January Oil - Bloomberg
by wisconsin_cur » Tue 09 Dec 2008, 03:24:03
$this->bbcode_second_pass_quote('Keith_McClary', '[')url=http://www.bloomberg.com/apps/news?pid=20602099&sid=aGVEWl4Nnlio&refer=energy]Bloomberg[/url]
$this->bbcode_second_pass_quote('', '
')Dec. 5 (Bloomberg) -- Bets that oil for January delivery will fall below $20 a barrel were the most active options contract in electronic trading today, a day after Merrill Lynch & Co. said oil may drop to less than $25.
Oil may dip to a six-year low if the worldwide recession spreads and the Organization of Petroleum Exporting Countries fails to stem declines, Francisco Blanch, Merrill commodity strategist, said in a report yesterday.
“Under a number of circumstances including a recession in China and a failure from OPEC to cut enough output, we could see prices dipping all the way to $25 a barrel, which is the level at which we’ll destroy some non-OPEC supply,” Blanch said in an interview today. “We’re not forecasting that. We’re saying it might happen.” His 2009 forecast is for $50 a barrel.
http://www.thenewfederalistpapers.com
-
wisconsin_cur - Light Sweet Crude
- Posts: 4576
- Joined: Thu 10 May 2007, 03:00:00
- Location: 45 degrees North. 883 feet above sealevel.
2 posts
• Page 1 of 1
Who is online
Users browsing this forum: No registered users and 6 guests