It is chart time again:
This chart tells me oil will stay around forty and we will be having a shitload of deflation. If you want oil prices high then you need the dollar low, and the dollar seems quite happy in the current trend.
I wish these analysts would look at the charts before mouthing their priors.
One thing I might point out. The crappy little Bush kid is the one who ran oil prices up. Now that the crappy little Bush kid is gone, oil is back to normal.
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