Expert Pumped About Oil's Future
Oil's great price rally of 2004 will not be matched this year as economies in big energy-consuming nations such as China and the U.S. grow at a slower pace, say many who track crude's ups and downs. Which isn't to say oil will freefall from the lofty perch it's risen to, says Peter Linder, an admittedly bullish oil and natural gas analyst with Calgary's DeltaOne Energy Fund.
Linder believes a new world order was behind oil's extraordinary surge to record heights of $55.17 US a barrel Oct. 22.
In other words, the basic laws of supply and demand say get used to crude hovering at above the $40 US mark.
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