The bad news (or good, depending on your point of view) is it looks as though today's prices are here to stay, possibly through much of next year.
But don't expect $100 a barrel But that doesn't mean prices are going to spike again soon. The biggest reason not is that stockpiles are near record levels and fall is what experts call the "shoulder months" - the time between strong summer demand from driving and air conditioning and winter's heating needs. Basically, there's not much to move the market. Come 2007, investments that have been made in production, thanks to the recent high prices, could start to come online and boost supply.
The biggest reason not is that stockpiles are near record levels and fall is what experts call the "shoulder months" - the time between strong summer demand from driving and air conditioning and winter's heating needs. Basically, there's not much to move the market.
Come 2007, investments that have been made in production, thanks to the recent high prices, could start to come online and boost supply.
or 15 minutes after an al Qaeda attack on Ras Tanura.
whichever comes first.
