Will oil really hit $200?

January 7, 2008
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Bloomberg carried a story today saying some of the hottest oil investments are options on the New York Mercantile Exchange to buy oil for $200 a barrel. Presumably at least some investors think oil prices are going to double.

Weâ??ve already seen oil prices nearly double in just the past year.

Are these investors crazy, or are they crazy like a fox? Which direction do you think prices will go?

Read the story.
  • Norm,
    Oil is a limited resourse that has been in high demand for decades. One day it will run out and I'm guessing one day $300 a barrel could be an average price.

  • These Wall Street futures traders need a reality check. This is plain and simple a form of intellectual terrorism, all just to support the greed of a select few.

    Someone sneezes too hard in Nigeria and futures prices instantly shoot up in New York.
    Makes me sick. There's a 'good ol boys club' in New York that needs to be prosecuted for price fixing, using scare tactics and other nonsense to inflate prices to absurd levels.

    This isn't a real market, it is and has been artificial for quite some time now.

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