Clueless about oil prices

NEW YORK (CNNMoney.com) — Two very different views on where oil prices are going by the year’s end are emerging – one says $60 or lower, the other $100 or higher, and there’s little consensus as to which is right.

The bulls say stronger global economic growth and low interest rates will lead to higher demand, pushing prices up from their current level of around $75 a barrel.

The bears say a rising dollar, weaker economic growth and greater efficiency will cause oil prices to fall as the year progresses.

“It underscores the volatility of the market and the various assumptions about the economy,” said Antoine Halff, Deputy Head of Research, Americas, Newedge USA, a joint venture brokerage subsidiary of Calyon and Societe Generale.

CNN