Bloomberg's survey of commodity analysts continues to show that consensus expectations for Oil are bearish. The forward contracts are well above the quarterly estimates for Oil going out to the second quarter of 2009. Analysts expect the commodity to end the year at $75.50, while the futures are trading at $93.90. Expectations for the second quarter of 2009 are all the way down to $68.48. Unfortunately, the traders don't have the same view as the analysts.Go for the chart.
Saturday, January 5, 2008
Oil Analysts Remain Bearish as the Commodity Rallies to $100
From Bespoke Investment Group: