Oil will keep on boiling and I would rather give credence to the words of Arjun Murti who has been sending shock waves through the oil industry for the last three years with his oil spike theories and predictions. But one must learn to admire the man because he hasn't been found incorrect even once. And if you realize that there are a number of reasons why oil should go up in the medium to long run. I know that in the short run, let us say, a week or two, oil might actually fall but there aren't many good reasons for oil to keep on falling, one year from now. There has been a constantly rising Chinese and Indian demand for oil and there is no way that people are going to stop using it. And then there are geopolitical tensions... and then the dollar keeps on falling. All these are triggers. There are many more too.
$99.51 (06/14/08)
