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Oil prices seen masking Canada "export recession"
Interesting take on 2009 oil pricesOil prices will continue falling and dip below $100 a barrel by the end of this year, unmasking an "export recession" in Canada that will result in anemic growth, a government export agency said on Thursday. ... Speculative investors have been behind much of the recent climb to record highs in oil prices, Hall said, but that behavior is now starting to unwind. When the U.S. dollar stops falling against the euro, speculators will abandon crude and prices will fall, averaging about $84 a barrel in 2009, he said. Posted by: ed 2008-07-25 |
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