.comment-link {margin-left:.6em;}

 The image “http://photos1.blogger.com/img/18/3404/640/NewsORamaLogo-rev1.jpg” cannot be displayed, because it contains errors.

Thursday, March 31, 2005
  Oh Crap!
Goldman sees oil price 'super spike' to $105 a barrel - UPDATE 3 Messenger | Yahoo! Finance-: "NEW YORK (AFX) - Oil prices have entered the early stages of trading that could lead to a 'super spike' with the potential to move prices to $105 per barrel, enough to meaningfully reduce energy consumption, according to a Goldman Sachs analysis.
The call, which would mean a possible doubling of oil prices from their current level, sent crude back above $55 per barrel for the first time in a week. The contract for May delivery was last quoted up 2.4 percent at $55.30, having earlier touched a high of $55.55.
'The strength in oil demand and economic growth, especially in the United States and China, following a year of $40-$50 per barrel WTI oil has surprised us... The reason for this adjustment in view is that persistent high prices are improving the financial position of key oil exporting countries and could serve to keep potential revolution at bay,' said analyst Arjun Murti.
Phil Flynn, senior market analyst at Alaron.com, said $105 oil is technically possible but not likely for at least 3 years and only if a major supply disruption, such as a halt to imports from Saudi Arabia, occurred."
Comments: Post a Comment

Links to this post:

Create a Link

<< Home
Current events with a sprinkle of opionion.


A prematurely crusty South Park Republican, with a raging addiction to internet news and current events.

Contact NewsORama:

powered by FreeFind

Daily light reading:

September 2004 / October 2004 / November 2004 / December 2004 / January 2005 / February 2005 / March 2005 / April 2005 / May 2005 / June 2005 / July 2005 / August 2005 / September 2005 / October 2005 / November 2005 / December 2005 / January 2006 / February 2006 / March 2006 / April 2006 / May 2006 / June 2006 / July 2006 / September 2006 /

Powered by Blogger