Calls for $105 Oil May Have Pegged Top in Oil Prices

In early April, Goldman Sachs shocked Wall Street when its oil analysis group predicted that the price of oil would rise to $105 per barrel.

The events since then have proven the report to be wrong, at least in the short term.

As of April 18, 2005, oil prices, after having risen to $58 per barrel, were testing the $50 area, and looked to be heading lower.

No one can predict any price trend with certainty. But such dramatic calls are often reliable signs that a change in the price trend is possible.