Full Story at money.cnn.com
Merrill Lynch’s oil analysts say oil will rise above $100 a barrel next year because of our monetary policy and resurgent oil demand from emerging markets.Merrill sees oil going to $82 in the fourth quarter of 2010, if not higher warning of an “upside risk” according to Bloomberg, who got a copy of their weekly report.
“Without firm policy action to reduce global oil demand or an unexpected expansion in supplies, a continuation of extremely loose monetary policy in OECD economies next year could ultimately bring about another spike in oil prices well above $100 a barrel as we approach 2011,” the report said.