Forbes: Oil crosses 91 dollars in Asian trade - UPDATE 2

Pipeline inflation will begin to feed through with CPI and interest rates under pressure by new year if this is sustained for much longer. Unfortunately this will harm far more than just the housing market. We could be at the beginning of a protracted bull market now given that the quiet low demand period between the US driving season/hurricane season and the northern hemisphere winter is now at a close. How high it goes depends mainly on how cold the winter gets, geopolitical tensions and what happens to oil reserves. Prices could shoot up from here should more news about why OPEC cannot increase supplies become common knowledge, in combination with fears that non OPEC output could be in terminal decline now. Where from here? It could get to $115/barrel by New Year.