Nevermind $4/gallon, are you ready for $7?
We just finished telling you that some analysts say gas prices have peaked, and now this: the AP reports, "Oil futures blasted to a new record near $123 a barrel Tuesday, gaining momentum as investors bought on a forecast of much higher prices and on any news hinting at supply shortages. Retail gas prices edged lower, but appear poised to rise to new records of their own in coming weeks." Driving the rise? "A new Goldman Sachs prediction that oil prices could rise to $150 to $200 within two years."
The U.K.'s Money High Street claims that the Goldman Sachs analyst in question, Argun Murti, has "a track record of successfully predicting future oil prices."
Read Article