Oil $77 / barrel & climbing….to what ?

Oil prices are at a new 11 – month high…but question is : to what levels can it rise?

The present rise is linked to :

• North Sea production problems
• Destabilization worries in the Persian Gulf
• Speculators driving in cash

So high will it rise….

Now, take points 2 & 3….

We don’t see any let up in this scenario…

Iraq is more messed up + Iran will play more hardball + the Afghanistan linked pipeline project is in jeopardy + Venezuela is reaching an oil pact with China & other countries

No less important - Speculators like you & me are flocking like hordes, caught in a “buying frenzy”.

End result ?

We are speculating it’ll rise to $90 by year-end.

Still time to buy those oil stocks….just still about a little bit time left.