Analysts Expect Oil Prices to Keep Rising

[Yo_Mama_Been_Loggin]

By BRAD FOSS, AP Business Writer

The two-day decline in oil prices, with crude futures briefly dipping below $53 a barrel on Tuesday, is a temporary trend that is likely to reverse itself before too long, analysts and traders said.


Tuesday's pullback came in spite of an attack on an Iraqi oil pipeline and persistent concerns that the world's immediate oil-output capabilities have been pushed close to their limits due to unexpectedly strong demand.


While gasoline consumption typically tapers off at this time of year, demand for home-heating fuels begins to rise.


"It would be a rare event to have the market top out ahead of winter," said James Cordier, head trader at Liberty Trading Group Inc. of Tampa, Fla.

http://story.news.yahoo.com/news?tmpl=story2&u=ap/oil_prices

[ElsewheresDaughter]

1. i heard it will be at "$75 a barrel this winter"

[mom cat]

4. I've already set the thermostat at 55 and it may have to go down to

50.

[DELUSIONAL]

5. no heat + no flu shots

could mean a whole lot of very sick old folks -- and the working poor.

We've lost 4 years of research and development into alternative energy with bush & company. And then the hostile gop during most of Clinton's administration.

[NoMoreMrNiceGuy]

2. Over 1 mill. barrels lost to depletion p/day...we'll never see cheap gas.

http://www.fromthewilderness.com/free/ww3/082304_million_depletion.shtml

[Say_What]

6. Just paid $2.35 gallon for regular--up about .40 cents from ten days ago

n/t

[ramapo]

3. Really?

Prices are still relatively low when inflation adjusted as compared to the price shocks of the '70s. Now consumption is much higher and reserves fewer.

It is so amusing to hear the talking heads spew excitement when the price of oil drops for a day or two. It would be refreshing to hear an honest assessment that takes into account that the long-term trend must be higher.

[Viking12]

7. Price climbs to 53 severed heads per barrel. n/t

[JolietDem]

8. Hey!

Actually, we're quite lucky! We've got an administration that has ties to the energy industry that will convince them to lower heating costs because, well darn it, that's right for the American people. And if there's one thing about the administration, it's that poeple always come before powerful utilities! They're on the job!

Well, for another two weeks anyway....

[fortyfeetunder]

9. Good for the Hummer drivers

Don't y'all feel sorry for those bastards with the guzzling piece of crap?