2012 Oil Price Forecast
Why Prices Will Creep Higher in 2012
Truth be told, forecasting higher oil prices in the long run feels a lot like shooting fish in a barrel.
Two years ago, the light sweet crude coming from Texas (WTI) averaged $61.65 per barrel. A year later, that average was 30% higher, slightly below $80 a barrel. And this year, the EIA expects WTI to average nearly $94 a barrel.
A return to triple digits is a guarantee — and we may see $100 before New Year's Day......
http://www.energyandcapital.com/articles/2012-oil-price-forecast/1896
Daily Commodity Futures Price Chart: Dec. 2011
Light Crude Oil
TFC Commodity Charts
http://futures.tradingcharts.com/chart/CO
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