Will oil price above $150 end of this month???

Question

How about after July 4th?

Answer 1

I doubt it probably not till next month. I hope so though I invest in oil futures contracts. you should too.

Answer 2

Anyone who says they know what crude oil prices are going to be, whether it is tomorrow, next week, end of month of end of year, is simply lying.  No one knows since it is dependent on many variables that can influence prices.  Such variables are inventory level, geopolitical events (e.g., community unrest or labor strikes in producing countries such as Nigeria, "noises" in Iran and Iraq, etc), economy, natural disasters (e.g., earthquakes, hurricane, etc.) which can affect supply or demand.  Since these variables are unpredictable, so are the prices.

In the long term, it is my expectation that crude prices will rise, but with the usual volatility due to the slim excess capacity of production that can be overwhelmed by significant events.  Crude production is expected to increase slightly over the next few years, but so is the world's demand (primarily, China, India and the Middle East) unless there is a global recession or the third world countries reduce their fuel subsidy as to effect higher prices that will cause a reduction in demand for fuel as we are currently experiencing in the U.S.

That being said, the best answer is "who knows".  Que sera, sera, whatever will be will be.

Answer 3

According to the statement issued by the Chairman of the Federal Reserve, Ben Bernanke who referred to the rise in energy prices as an added risk of inflation, as the rise of the dollar is directly linked to the rise in oil prices.

This statement along with the ECB's intention to increase interest rates next month, could cause a rise in oil prices, which could reach approximately $140 a barrel.

The impact of this news is seen in the current currency market as the USD rose against all the major currency. There are other factors too which contribute to the rise in oil prices like greater demand by the developing country, scarce resources, limited supply etc which would surely rise the prices.