Wednesday, October 15, 2008

Will we see $50 a barrel?

Oil prices predicted to fall further, could hit $50

"A combination of fear, de-stocking and disruptions across the supply chain owing to frozen credit markets is currently depressing oil demand far below where underlying economic fundamentals would suggest," Goldman Sachs said on Monday in a note to clients. Goldman said it expected crude to average $75 in the fourth quarter and end the year at $70, but added: "Should the financial and economic crisis cut deeper into demand, the market could fall as low as $50 a barrel."

Posted by stevie dee @ 01:12 PM (345 views)
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