Oil Boom Runs Out of Gas

Oil prices have been bouncing all over the place. After cresting at $77 a barrel last summer, they plunged to $51 in January, rebounded to $62 and settled March 14 at $57. The most recent drop has been on fears of economic slowing.

So we’re left with weighing the fundamentals of supply and demand and the current geopolitical situation. From those perspectives, Charles Ober, manager of T. Rowe Price New Era fund, expects oil prices to average between $55 to $65 for the next two or three years.

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