| The Dow Jones-AIG Commodity Total Return Index is up 12.01% so far this year. Leading commodity analysts provided their market outlook for the rest of 2008 this morning at the seventh annual Dow Jones Indexes Commodity Outlook.
Oil prices may have reached their peak for now "Declining oil prices in recent weeks due in part to weakened U.S. demand and increased global output have provided relief to consumers after the string of record highs we've experienced in the first half of 2008. The questions on people's minds are 'has the oil bubble finally burst' and 'if so, when will we see a return to double-digit prices?' We should see oil prices reach $99, heating oil at $250 and RBOB close at $220 before the end of the year," said Phil Flynn, vice president and senior market analyst, Alaron Trading Corporation, Chicago......Full Press Release Source |