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[Richie London]

http://biz.yahoo.com/ap/090106/oil_prices_future_shock.html

 :-?

[Del Boy]

Was bound to happen anyway. But then again the press will write anything for a story.

[Richie London]

Was bound to happen anyway. But then again the press will write anything for a story.

obvious they will cut back production, price is too low

[Nickbat]

Idle speculation, IMHO.

Remember all those analysts that said oil would reach $200 in the last bubble?

As LSG1 said, the press will print anything...provided it's negative in tone.

[Omega man 2]

It's the problems in Gaza and Isreal pushing up the price.
Every time OPEC announce a cut there is about a week of rising prices and then the downward spiral continues.
With the global economy the way it is there is simply not enough demand for the price to rise very much (if it rises too much the economy will suffer and back to square one) if this thing in Gaza is sorted soon enough it will drope even lower.