Talk of $200-per-barrel oil prices by the end of the year has quietly faded away and been replaced by forecasts for $100.
It would be easy to say that crude oil has failed to meet market expectations, and a bear market may be in place. But the harder part is to figure out how long and to what point oil prices will fall.
Projections earlier this year for oil prices as high as $200 fell flat, with prices unable to even reach $150.
“Now analysts are lining up to say the top is in,” said Sean Brodrick, a natural resources analyst at MoneyandMarkets.com. “I’ve been saying all along that volatility is the name of the game in oil this year.”
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