Crude oil prices are geared to the upside and could hit $140/bbl before December, says Citibank. Increased tensions in the Middle East and North Africa, combined with a likely increase in demand in the wake of the Japan quake and tsunami, suggests the risk points to higher prices, says the bank.
Crude oil prices are geared to the upside and could hit $140/bbl before
December, says Citibank. Increased tensions in the Middle East and North
Africa, combined with a likely increase in demand in the wake of the Japan quake and
tsunami, suggests the risk points to higher prices, says the bank. However, it
warns against taking an outright position, as net long positioning is very
stretched.
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