Breakingviews | Oil prices

Considered view

07 May 2008 15:55

Aim for the sky

By Edward Hadas

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Context News

Oil hit a record high of over $122 per barrel on May 6. It was at around $70 six months ago.

A Goldman Sachs analyst’s research note warned that the prospect of oil prices reaching $150 to $200 per barrels is increasingly likely over the next 24 months.

The price can keep going up and up, just as long as money flows freely to commodity buyers and the oil supply stays a bit squeezed. So experts can plausibly suggest $200 – or more. But when the money's spigots tighten enough, the price will tumble. Even bulls expect $75 oil.

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Aim for the sky

Context News