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Higher Oil Prices Were Predicted in September 2010 Due to Federal Reserve manipulations
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Crude oil tipped to bubble over $100 a barrel
For the first time in two years, oil bulls are starting to outnumber bears.
The bulls’ push comes as the oil market is experiencing a “demand shock”, with consumption growth this year accelerating to almost its highest rate in 30 years.
This unexpected boom in demand has lifted benchmark oil prices sharply higher, to a 26-month high of more than $90 a barrel on Tuesday. Some traders believe the market could jump to $100 within weeks.
The bulls’ push comes as the oil market is experiencing a “demand shock”, with consumption growth this year accelerating to almost its highest rate in 30 years.
This unexpected boom in demand has lifted benchmark oil prices sharply higher, to a 26-month high of more than $90 a barrel on Tuesday. Some traders believe the market could jump to $100 within weeks.
Traders and analysts are divided on the outlook for oil, even if the bulls are in command.
The bullish sentiment contrasts with the mood in oil markets three months ago, when physical traders – who arguably have better intelligence than anyone else – thought prices were unlikely to rise further in 2011 and felt consumption growth was lackluster.
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