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Well wasn't that a short lived retrenchment? As for projecting the oil price to a precise dollar hard to say. Pretty sure we are looking at higher highs and higher lows. For now we are in full tilt in oil and there seems to be enough oil and even gasoline. The joker is what happens over the next 10 weeks in the US Gulf. A bad storm will be push oil right up to +$80 and Nat Gas to near $8MMbtu. We could be looking at another year end like last year and I will be lightening up in my O&G in early OCT. Throw in the War criminal Bush and his sabre along with his friends in Venezuela, Russia, Nigeria,and the Middle East anything is possible.
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