Question Details

Oil Price, what next?

Oil Price, what next?

Asked by: Super Userkruijs in Business » Indices
Settled on 02/22/2011 16:20 Settled by Super Userkruijs
Winning option:5$/barrel today close at 106.464/barrel
http://www.bbc.co.uk/news/business/market_data/commodities/28696/default.stm

Predictions

105$/barrel
95$/barrel

Background

Spurred by a weak dollar, oil prices exceeded $90 per barrel after Christmas, the highest since October 2008. Last week the International Energy Agency revealed that the oil import costs for the 34 members of the Organisation for Economic Co-operation and Development have soared by $200bn to $790bn.

The question is, how high is too high and which way will the price go? Brent oil future contracts for February are trading at over $90 per barrel on London's ICE Futures exchange.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8246491/OPEC-digs-in-on-oil-price-as-it-enters-danger-zone.html

Find similar: oil, Brent Crude Oil Spot

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