A "warmer than usual" Autumn and early part of Winter is predicted. Though temporary, the world will seem awash with oil. I don't think the advance is much from this point. December 31 closing # : $27.27
OK, I was off quite a bit, so I'll take another stab in an attempt at redemption.
My prediction is based on: * a weak USD * continued fallout with Katrina/Rita * a seasonable November/December * geopolitical shocks, take your pick e.g Iran, Indonesia, Venezuala * a continued cheap valuation vis a vis peers (except Total) * perceived safety * subsitutive effect of more crude demand from high NG prices