Energy prices: Where do wo go from here?

摘要

Between potential disruptions in key oil-producing countries, weather forecasts and good old-fashion inventory/price relationships, energy traders have had quite a plate full of factors to digest. Analysts and traders, however, are now sorting through these issues and making forecasts on where prices are headed. After crude oil crossed the once thought unbelievable $50 per barrel mark in late September, the commodity then climbed to its record closing high of $55.17 in late October. Middle East troubles and China's thirst for crude fueled the spike, but many contend the flurry of speculator activity also played a major role. However, by early December rising U.S. inventories of crude and distillate fuel, including heating oil, paved the way for about a $13 decline. And $40 crude prompted Opec at its Dec. 10 meeting in Cairo to pare back production by one million barrels a day, easing concerns for a potential collapse in oil prices.