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Tuesday, March 04, 2008

Today's Oil News

Turns out I may not bullish enough. Here's ANOTHER short-term forecast in oil …

Oil May Rise to $120 in Six Months on Weak Dollar, Tensions, Taqa CEO Says Crude oil may rise to $120 a barrel within six months due to the dollar weakness and global political tensions, the chief executive officer of Abu Dhabi National Energy Co. said.

A 5-year forecast in oil …

Oil Could Reach $300, says Matt Simmons

Former White House energy advisor Matthew Simmons said the current highs of $100 per barrel are "cheap".

Either way you slice it, oil is going up …

Crude Oil Rises on Dollar-Led Buying, OPEC Reluctance to Boost Production Crude oil rose a second day as a lower U.S. dollar spurred commodity investments and OPEC ruled out raising production targets when it meets tomorrow in Vienna.

And here’s why …

OPEC Not Moving to Ease High Oil Prices

On Monday, oil surpassed the all-time record of $103.76 a barrel when adjusted for inflation. The previous record was $38, set in 1980 at the height of the U.S.-Iran hostage crisis.

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