t's time to prepare for $100 oil. A price of $150, taking out the 2008 high, may also be a real possibility if events in the Middle East continue to escalate, as we have witnessed in recent days.
While I believe that oil, given the vast supplies available around the world, has an economic value of about $20 per barrel, it's becoming increasingly impossible to ignore a world that seems to want higher prices for crude.
SEA Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
