oil hit us$48.70 - fresh threats to inventories, page-4

  1. xerxes_ph
    9,081 Posts.
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    20/11/04
    09:24
    Post #: 666346
    Yep ... agree with Ian that "the main story is still Chinese and Indian demand, and the decline of the great fields of the 1970s"

    Also, US$ weakness logically translates to higher US$ oil prices.

    Add to that the geopolitical tensions of the middle east and you have a very volatile oil market which will progressively trend up - sometimes violently so.

    I would not be short oil or oil stocks.
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    lightbulb Created with Sketch.  Great analysis
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