Friday, October 19, 2007

Crude Oil Is Over Priced At The Moment

Crude Oil is hovering around US$90/Barrel and is looking expensive at the moment. With almost every adverse news currently being discounted at this price level, new entrants and oppurtunistic specualtors are making a quick buck in this scarce commodity, driving it's price further up. However, with US president talking hawkish against Iranian president along with continued threat from terriorism and fast growing world GDP, and winters in the northern hemi-sphere, crude oil is expected to remain warm, not withstanding
short term corrections.