This is a re-post from my word press blog and just wanted to see if anyone wanted to predict the future.
A Japanese oil tanker was damaged Monday when it was attacked by a small boat in Middle Eastern waters off the coast of Yemen, the tanker’s owner said. Word of the attack helped to drive world oil prices to a new record.
The attack rattled the nerves of global energy traders, sending the price of benchmark light, sweet crude to a record $117.40 per barrel. Oil prices had also briefly touched $117 per barrel last week, after rebels attacked a pipeline in Nigeria, Africa’s largest oil producer.
Okay this is a daily occurrence, but now I want to start a prediction that oil will hit $125 a barrel by July 4th. Anybody else want to join in? Come on what you got to lose?