Is One Man’s Oil Price Prediction Causing Crude to Spike?
May 7th, 2008 | By Contrarian Profits | Category: Featured, Financial News, Oil Investment & Alternative EnergyWhen Goldman Sachs energy strategist Argun Murti made his oil price prediction that the black goo would “super-spike” past $200 in six months to two years’ time, how aware was he of the affects this prediction would have on the price of oil?
Murti’s price prediction seems to have been one of the main drivers behind oil’s climb yesterday, with the AP news wire carrying the headline: “Oil prices rise to record near $123 a barrel on prediction of $200 oil, supply concerns.”