Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: zonder who wrote (14301)	10/29/2004 1:40:45 PM
From: mishedlo	Read Replies (1) of 116555

Oil prices set to moderate says Bear Sterns analyst Friday, October 29, 2004 4:50:55 PM afxpress.com SAN FRANCISCO (AFX) -- Oil prices are set to moderate from their current levels above $50 a barrel, Ted Izatt, a high grade energy analyst at Bear Stearns said during a a conference call Friday. Barring more big supply disruptions, prices "will likely moderate over the next period of time here," he said, adding that investors should assume a range of $38 to $44 per barrel (West Texas Intermediate) and $5.50 to $6.50 per thousand cubic feet for natural gas. Higher prices will drive larger capital spending by the industry and possibly by oil-producing nations including OPEC," he said, possibly raising capital spending in the industry next year by 7% to 10% and "possibly more, eventually resulting in greater production. Still, he assigned a low probability to a price collapse to the low $30s to $20s for oil ======================================================================== $38 oil huh? I think they should put their money where their mouth is and short oil then Mish

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