Oil took a break today and retreated from an all-time high. For quite some time we have felt that investors have been driving the rise in oil prices and that argument is catching on with analysts. In an article by Mark Schenk, one analyst stated that institutional investors were partially responsible for the run-up in prices. Also stated were that fundamentals justify $80 to $100 a barrel.
To view the article, please click here:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aQgkq6OTn3q8
Jim Sutliff