Oil Prices Predicted to Stay Above $100 a Barrel Through Next Year

http://pix04.revsci.net/H07707/b3/0/3/0806180/329524110.js?D=DM_LOC%3Dhttp%253A%252F%252Fwww.themuslimtimes.org%252Fwp-admin%252Fpost-new.php%26DM_CAT%3DNYTimesglobal%2520%253E%2520General%26DM_EOM%3D1&C=H07707%2CH07707
The United States economy managed to cope this year despite triple-digit prices for barrels of oil. The lessons may come in handy, economists say, because those prices will probably be sticking around.       

With Iran threatening to cut off about a fifth of the world’s oil supply by closing the Strait of Hormuz and unrest in Iraq endangering the ability to increase production there, financial analysts say prices for two important oil benchmarks will average from $100 a barrel to $120 a barrel in 2012.  Read more

 
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Categories: Economics, United States

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