96 comments on Boone Pickens: There's No End in Sight for the Rise in Crude Oil Prices
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96 comments on Boone Pickens: There's No End in Sight for the Rise in Crude Oil Prices
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Agreed, the underlying supply crunch could drive oil prices to $US100/barrel this winter and to $US150/barrel by the end of 2010. Please refer to Fig 1 of http://www.theoildrum.com/node/3064
I too was a little confused by your comment above.
USD Index has moved 1.2% in the last 7 days...big deal. Crude on the other hand.
But, you are correct it will aggravate the price moves.
With NYMEX above 90 in after hours, and as I posted in the drumbeat.
We could be less than 2 weeks from $100 dollars on supply, USD weakness and global tensions.
If the FED reduces rates OCT 31st, we could be looking at a larger than average fall in the USD$, and a corresponding jump in commodity prices.