| From Iol.co.za: Specialist investment manager Investec Asset Management believes that with political contagion risks spreading across north Africa and the Middle East, the “guarantee of crude supply” could be further affected, leading to a possible spike in the oil price to more than US$150 per barrel.
Mark Lacey, Investec Global Energy Fund co-portfolio manager, questioned whether the current prices of $111 per barrel reflected a crisis? “In our view, current prices do not reflect a crisis. Our price forecasts based on the long-term cost dynamics of the industry remain unchanged - we continue to assume prices of $100 per barrel in our company models...............................................Full Article: Source
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