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Bank of America Corporation Message Board

  • fairvalue23 fairvalue23 Jun 9, 2013 12:21 PM Flag

    Oil prices aren't right due to too much oil in the market...

    Oil prices aren't right due to too much oil in the market...Oil prices aren't right due to too much oil in the market. 03 June 07:23 am Many analysts say oil prices aren't right due to too much oil in the market. “The economic price for (West Texas Intermediate) oil is in the $50-$60 range,” said Mickey Cargile, managing partner at Cargile Investments, basing his estimate on where he sees supplies locally and in Cushing, Okla., the delivery hub for Nymex oil. “Our range valuation suggests a 20%-30% risk premium price
    d for potential supply disruption from Iran,” he said. This equates to gasoline prices to average about $2.50 per gallon

 
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