The Energy Space
Energy Price Outlook
After a sobering week last week, oil prices are expected to be under pressure again in this week's trade and potentially fall toward $80/bbl in WTI over the next few weeks. The dominant factors should be increased prospects for slow growth in the U.S., uncertainty over the fiscal cliff, events in Europe including Sunday's vote in Greece, and OPEC's cut in demand estimates on Friday. The bull case rests on any breakthroughs in the above issues as well as some signs of improvement in Chinese economic data. We'd look for prices to drift lower in this week's trade....1248 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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