Oil nears $123 on $200 oil prediction, supply concerns at izbrano

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Oil nears $123 on $200 oil prediction, supply concerns

BusinessWeek - Oil futures blasted to a new record over $122 a barrel Tuesday, gaining momentum as investors bought on a forecast of much higher prices and on any news hinting at supply shortages. Retail gas prices edged lower, but appear poised to rise to new records of their own in coming weeks.

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Storm clouds over the oil market

Financial Times - Bullish forecasters who predicted a few weeks ago that oil prices would soon top $200 a barrel may be feeling chastened. The price of US West Texas Intermediate is down almost 27 per cent from its July record of $147.27 a barrel, trading at $108 on Wednesday, a whisker [...]

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