The Oil Drum | DrumBeat: June 30, 2006

228 comments on DrumBeat: June 30, 2006

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Leanan on June 30, 2006 - 9:49am

For entertainment purposes only...

Merrill Lynch raises 2007 oil price forecast 38%

Merrill analysts, led by Francisco Blanch, raised their 2007 estimate for West Texas Intermediate, the U.S. benchmark for crude oil, to $65 a barrel.

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tate423 on June 30, 2006 - 11:05am

Is this the average contract price paid or are we talking the spot market? If it's the latter, I assume they want to make people feel real fuzzy inside.

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Nate Hagens on June 30, 2006 - 11:44am

wall street firms have collectively predicted lower oil prices for the past 6 years and been wrong each time. no one wants to be the outlier -if they are right they look like geniuses but if they are wrong their career is at stake. this year was the first in 7 where some major firms predicted higher prices. merril lynch not one of them

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228 comments on DrumBeat: June 30, 2006

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