It will drop to 50 but the question is anything above than that. I had predicted $65 by this summer and $62 was hit....good enough for me. I doubt crude will go to $100 anytime soon. I am trying to justify $37..........but not yet.
I don't think that only one individual can affect the oil price very much. Suppose that you had oil stocks, you would love to hear any news that makes the oil to go up. So don't blame Cartels and Trusts. Interesting thing about the oil price is that we hear in the news that oil surged from 50 to 52 and market was down 0.2% and the next day we hear oil is down only 25 cents and market cheers and goes up 2%. The next day the oil surges again $2 and market goes down only 0.2% and .on and on....... Important thing is that oil is up 70% during last year and market has not reacted the way it should do. Oil cost has increased my cost of gas and heating system and utility (I don't mean cost of living ) by about $1500 a year. I am single and I drive a regular 4 cylinder car. I am not driving a hummer!!. That increase is for everyone. It will be a supper big hit soon. Actually it is hitting the economy now but investors are numb for a while. Even if oil goes down to $50 and stays there, it is a big hit to the economy.
It's a big hit to all industrial nations period and it will continue to be.. There's no easy solution all the "easy oil" is gone..
my country is selling oil to your country, thats nice for my pension plan and free healthcare... let it be 100usd even tho i dont believe in it myself
I don't understand something about crude oil. Why would a terrorist attack make the price move up? Shouldn't it move down on travel jitters? And secondly, isn't supply data the most important thing. I have heard that the supply is huge and that future predicted supply will decrease. So after all this, why the increase in crude oil?
I don't understand something about crude oil. Why would a terrorist attack make the price move up? Shouldn't it move down on travel jitters? And secondly, isn't supply data the most important thing. I have heard that the supply is huge and that future predicted supply will decrease. So after all this, why the increase in crude oil?