3 Jul, 2011, 08.37PM IST,Reuters
NEW YORK: Oil prices will likely reach $150 per barrel by next spring, with spikes as high as $170 and gasoline prices of $4.50 a gallon the norm, Barron's said in its latest issue.
The magazine, in the issue dated Saturday, estimated the rise in oil prices would knock 1.5 percentage points from quarterly growth in the gross domestic product.
Oil is currently trading just less than $95 a barrel.
Barron's forecast oil would stay at a base of $150 for "several months" before expectations of supply bring a decline in prices.
The magazine, in the issue dated Saturday, estimated the rise in oil prices would knock 1.5 percentage points from quarterly growth in the gross domestic product.
Oil is currently trading just less than $95 a barrel.
Barron's forecast oil would stay at a base of $150 for "several months" before expectations of supply bring a decline in prices.
0 comments:
Post a Comment