The Hype With Oil Soon Hitting $100 A Barrel
It is easy to get caught up in the all the newscast hype about oil hitting $100 a barrel in the near future. First, this is not news; this is at best a prediction. The news is that oil is costing over $60 at the time of the posting.
If you want a quick answer on the likelihood of oil hitting $100 a barrel in the near future, look at the oil options market. Here informed people (for the most part) are betting on whether the price of oil will go up or down. Here we see some good news. The oil options marketplace predictions that there is only a 7 percent chance that oil will climb up to $100 a barrel. In fact, they further predict at this writing that there is a 14 percent chance that oil will go down to under $40 a barrel. See MarginalRevolution’s posting:
What is the chance that oil will hit $100 a barrel?
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