Oil Prices: What Next?

Where do oil prices go from here? Up, reckons David Guthrie. And heres why…

Three years ago, I remember seeing a fund manager being interviewed on CNBC, the financial news network. He suggested that the price of oil was going up to $100 per barrel. The interviewer spluttered at such alarmist talk and was at pains to distance the channel from this expression of opinion


This little anecdote encapsulates a lot of what has been happening in the oil bull market, indeed what happens in any bull market as it develops. Before a rally starts, and even through the early stages of a rally, very few people see it coming