Jun 10, 2008

Oil Prices To Remain High

The World Bank is forecasting high oil prices into the medium term - but a levels considerably lower than they are today.

"The (oil) price will stay high for some time. The projection by the World Bank (is that) in the medium term the price will range between $104 to $108 per barrel," the World Bank's chief economist Justin Lin

We will buy this assessment. Somewhere close to the $100 mark would seem much more realistic than Friday's peak. Even today they are still over $135.