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Commodities Briefing - Categorized | Commentaries, Oil, Price Watch more

$200 oil? That’s so 2008

Posted on 14 October 2008

From IHT: As oil prices zoomed toward an unheard of $147 a barrel this summer, it seemed every analyst prediction that oil would approach $200 was a self-fulfilling prophecy, until suddenly it was not.

Instead of $200, oil is now $80. Instead of going up, the U.S. has seen the greatest destruction in demand since the oil-shocked 1970s. Drivers have dramatically cut down on driving since November…… Full Article: Source


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VRS - who has written 39513 posts on Opalesque Commodities Briefing.


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