Tuesday, July 24, 2007

Oil Will Rise

Oil At $100 May Be Months Away, Not Years

LONDON: The $100-a-barrel oil that Goldman Sachs Group said would prevail by 2009 may be only a few months away. Jeffrey Currie, a London-based commodity analyst at the world’s biggest securities firm, says $95 crude is likely this year unless Opec unexpectedly increases production, and declining inventories are raising the chances for $100 oil. Jeff Rubin at CIBC World Markets predicts $100 a barrel as soon as next year.

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