The World Economy can not withstand another spike at this juncture. Big Boyz have stage set for an autum price in the 80s range,and call options are well established to reflect this. Stench has lowered His target projestions to $54.40 on the October Expirations. This whole Syria situation has been brewing for a long time,and the Brew Meisterz are ready to declare it fully mulled. Cheap gas,along with cheap heating oil (the need to cap some gas wells) is in store for coming winter.
Stench, depending if the Syria mess spreads to other countries oil can hit $120+ in my opinion. However, I can see some drop during the 4Q but not into the $80's as demand from growing middle classes in China & India should keep oil from dropping terribly lower. .......... but it is anyone's guess so there is mine.
Good luck COP longs.
Everyone can have Their cake,but will have to wait til mid next year for eating it. China needs to keep humming,and the only way to keep it going/headed back to full steam,is by allowing johnny Consumer some extra pin money and let im keep buting more landfill.