Oil Prices “Withdraws” back into below $91 per barrels today 2.15am 29 November 2007 (+8 GMT Singapore Time)
I call this “Oil Withdrawal” or “Negative Waves” that precede any “Tsunami” that follows. Currently, My prediction that the current oil prices might go down further until the meeting of OPEC on 5th December to see what will be the outcome of the “story” on supply hikes.
The prediction will be sudden spike in oil prices or a substantial increase over a few days.
Given the sensitivity of the event, disclaimer have to be put out that I am not responsible for any loss of life or money or property in any event my prediction don’t come true.
It’s great to see oil prices at lower range, it may also signify a sudden change of heart of traders to support lower oil prices? However, the coming winter demand and political tension might change all these within minutes. Let’s pray for peace then and we all shall have more time to implement future alternative energy supplies.
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