Oil prices have not finished flaming ... It's unless the result of a survey by Reuters shows that the barrel is expected to exceed 130$ by the end of 2011. A trader of five provides even that a barrel back to 150$ this year!
It is the persistent troubles in the Arab world that grows the majority of the 32 traders, analysts and fund managers surveyed expected a New surge in the current year. Futures contracts on Brent already won nearly eight dollars over the last five days to established at 122.50 dollars , depassing the limit of 120$ for the first time since 2008 this week.
A barrel for 130$ would affect consumer confidence and undermine the growth of the countries most dependent on black gold, starting with the U.S. leading consumer of oil. Impact on growth from 0.5 to 0.75 percentage point is mentioned ...
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