will oil hit $150 by summer?

Oil price forecast for 2011, will oil hit $150 by summer?

Oil price 2011 = Oil price forecast for 2011, will oil hit $150 by summer? : With 2010 at a close, we take a look at oil prices over the last 12 months and attempt to make an oil price forecast for 2011, backed up by bank forecasts for 2011 and analysts and traders points of view on the coming year’s price of oil.

2010 – A Year of Rising Oil Prices

WTI oil prices are around 15 percent higher today than they were on 1st January 2010, and Brent crude oil futures are more like 20 percent higher still ( see 1st January 2010 article here ).

Although 2010 has seen crude oil prices take on year highs and lows, it’s clear that the world economy continues to re-shape, and in turn, global oil demand is now a main driver of oil prices.