Any predictions on oil this week?
The price for a barrel of oil seems to have leveled out for now in the $81 range, but at least some experts think that $85 is not far away. Any guesses for where it will go this week?
BONUS: Read this Wall Street Journal article for more context on the rising price of oil:
Especially useful, I think, is the article’s differentiation between the current near-record highs, which have occurred via gradual increases with some smaller price spikes interspersed, and previous record highs, which have usually happened in response to crisis events like the overthrow of the Shah of Iran.
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[...] time last year, crude oil cost $81 per barrel and threatened to crack the $85 threshold. As 2008 began, oil temporarily touched the psychological [...]