Triple-digit Oil Is Inevitable
NEW YORK (MarketWatch) -- Oil at $100 a barrel? Oh yes, and like most milestones, this is one that you are not likely to forget.
As we stand on the precipice of such lofty prices, I understand that there are those who believe that $100 oil is pure nonsense.
We've been watching oil very closely. At $40 we said crude would hit $60. At $50 we said it would hit $75 within a year. Some scoffed and called me a fear monger. Now that we're at $75, I'm telling you that under the right conditions oil could not only hit, but sustain a $95 to $110 price per barrel by the end of the year. I say it's not only likely, but almost inevitable within 12 months.
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