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Reply #14: I Seriously Doubt $200 Oil [View All]

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DallasNE Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-07-08 07:23 AM
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14. I Seriously Doubt $200 Oil
$150 will offer some resistence but once that is broken it will shoot to near $170 but I look for that to be the last big push. Why? Because that will take us to Labor Day and that is important for two reasons. It is the end of the summer driving season. More importantly, we should have a pretty good indication on who the next President will be. If it is Obama, as I expect, then that will have a calming effect on the oil markets and start a retreat in oil prices. Obviously, Cheney could order air strikes against Iran and that would throw this off but that is about it.
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