Could escalating oil prices fuel inflation?
*Bloomberg, by Mark Shenk, July 23, 2007:
$100 Oil Price May Be Months Away
"The $100-a-barrel oil that Goldman Sachs Group Inc. 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.
"We're only a headline of significance away from $100 oil," said John
Kilduff, an analyst in the New York office of futures broker Man
Financial Inc. "The unrelenting pressure of increased demand has left
the market a coiled spring." New disruptions of Nigerian or Iraqi
supplies, or any military strike against Iran, might trigger the rise,
Kilduff said in a July 20 interview."
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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