Not Logged In Log In   Sign Up   Points Leaders
Follow Us    10:46 AM

GasBuddy News Article

18
votes
J.P. Morgan cuts 3rd-quarter oil price forecast to $75 a bar

Market Watch -- SAN FRANCISCO (MarketWatch) -- J.P. Morgan Chase & Co. has lowered its price target for crude-oil futures, saying the recent bounce is likely temporary and forecasting prices around $65 a barrel by October.

The firm has tweaked its third-quarter price forecast to $75 a barrel, from $77 a barrel.

Investors should view the recovery in prices in the coming week as "a selling opportunity," analysts at Morgan wrote in a note to clients.

Prices are likely to "move into the mid $60s before (the Organization of the Petroleum Exporting Countries) meets in October," they said.

Read the Full Article

Submitted Aug 30, 2010 By: DocWyeth
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: J.P. Morgan cuts 3rd-quarter oil price forecast to $75 a bar Post a Reply Back to Topics
REPLIES (newest first)
Profile Pic
jjjleblanc
Champion Author Rochester

Posts:4,366
Points:1,104,290
Joined:Jun 2008
Message Posted: Aug 30, 2010 6:01:30 PM
 Ignore jjjleblanc Report Abuse

Should be lower.
Profile Pic
jaxtrax
Champion Author Toronto

Posts:1,867
Points:564,150
Joined:Sep 2008
Message Posted: Aug 30, 2010 2:56:19 PM
 Ignore jaxtrax Report Abuse

Hope is goes down even more ... but mid-70s are good.
Profile Pic
Night Owl
Champion Author Toronto

Posts:5,290
Points:1,337,625
Joined:Jul 2004
Message Posted: Aug 30, 2010 2:34:42 PM
 Ignore Night Owl Report Abuse

Still far too high.
Profile Pic
BMW2014
Champion Author Toronto

Posts:1,794
Points:364,300
Joined:Jun 2010
Message Posted: Aug 30, 2010 1:43:15 PM
 Ignore BMW2014 Report Abuse

Good news.
Post a reply Back to Topics
"Consumers working together to save on gas"
Featured Sponsor
Free Ontario Classified ads.
Buy & Sell stuff in Ontario
Click here for more info