Will Oil Hit $300 A Barrel in 2010 Due To Mid-East Tensions Part I & II

While I am very reluctant to provide short term forecasts on area such as commodity prices or stock prices, I have a strong opinion about future oil prices. I am confident in my prediction because huge oil disruptions might occur due to tensions in the Middle East this coming year. I strongly believe that the media, politicians and investors do not realize the severity of situation. I think the coming year can see geo-political events that may cause the price of oil to skyrocket from current levels. While I think oil prices are currently over-priced, tensions in the Middle East could increase that will cause oil spikes this coming year. These Middle Eastern tensions are related to the current actions of the Iranian government.

There have been growing tensions between Iran and many other countries in the region. Although the media has been covering them, I do not think the media realizes the severity of these recent events.

GuruFocus

Part II is here