Oil price 'likely to reach $200'

by Sanjay Jha | May 7, 2008 at 01:04 am

189 views | 0 Recommendations | 0 comments

There seems to be no respite in soaring fuel price. According to report released today it could touch as high as $200 per barrel. Paying high fuel price will disrupt the growth ambitions of many developing countries.

The price of crude oil could soar to $200 a barrel in as little as six months, as supply continues to struggle to meet demand, a report has warned.
With benchmark US light crude passing the $122 mark for the first time on Tuesday, the warning comes from Goldman Sachs energy strategist Argun Murti.
Mr Murti said surging oil demand was likely to create a "super-spike" past $200 in six months to two years' time.