If there are no such things as coincidences then this dialectic was meant to be seen. Two opposing views on the oil price came into “Hedge Fund Insight” with 24 hours. Take a read and take a view.
Oil Price To Continue Rising
Says Angelos Damaskos, CEO Sector Investment Managers – read his case here.
Oil Faces Risk Of New 2012 Low
Says Stephen Pope, Managing Partner of Spotlight Ideas – read his case here.
An industry analyst commented on the two articles:
“The sad thing is they both make good points, but the idea of positive and negative cross currents has been prevalent for a while.
“On the negative side, weakening demand is a concern given the sorry state of the global economy.
“On the positive, a weakening dollar and euro thanks to the rampant printing of money, should help support all commodities. There have also been supply disappointments and the increased tensions in the Middle East are supportive.
“We are usually long-term bullish ( and in our business frankly have to be). However, we are well aware of what happens when demand rolls over. That being said, I still think the Gulf states of OPEC want and need a relatively higher price. That price is around $90/bbl.”