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Hulumas Supreme	19-May-2010 11:21        Hulumas About Contact  Quote this Post! Style: Flexible   Mood: Yells: "INVEST but not TRADE please!"
x 0   x 0  Alert Admin	I am afraid, WRONG PREDICTION this time! bishan22      ( Date: 18-May-2010 21:54) Posted: Hopefully things will turn out fine by 4Q 2010.    SINGAPORE : Financial services firm JP Morgan expects oil prices to continue its upward trend this year.  The average price could hit US$93 a barrel in the fourth quarter, driven by the strong demand from emerging market countries.  The debt crisis in Greece has caused volatility in the global stock markets recently.  But observers said that it is unlikely to rock the oil markets.  JP Morgan expects oil prices to average at US$93 per barrel by the end of the year, on the back of strong demand from emerging markets.  For instance, North Africa and the Middle East have been consuming a lot more oil products than what was expected nine months ago.  Lawrence Eagles, managing director, Global Head of Oil Research, JP Morgan, said: "It is the emerging market economies which really account for all the growth of the 1.7 million barrels a day that we see happening this year. And that outlook has not changed."  JP Morgan added that incidents like the oil spill in the Gulf of Mexico will not have significant impact on the market.  That is because supply of oil is still dominated by the Organization of Petroleum Exporting Countries (OPEC).
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bishan22 Elite	18-May-2010 21:54        bishan22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hopefully things will turn out fine by 4Q 2010.    SINGAPORE : Financial services firm JP Morgan expects oil prices to continue its upward trend this year.  The average price could hit US$93 a barrel in the fourth quarter, driven by the strong demand from emerging market countries.  The debt crisis in Greece has caused volatility in the global stock markets recently.  But observers said that it is unlikely to rock the oil markets.  JP Morgan expects oil prices to average at US$93 per barrel by the end of the year, on the back of strong demand from emerging markets.  For instance, North Africa and the Middle East have been consuming a lot more oil products than what was expected nine months ago.  Lawrence Eagles, managing director, Global Head of Oil Research, JP Morgan, said: "It is the emerging market economies which really account for all the growth of the 1.7 million barrels a day that we see happening this year. And that outlook has not changed."  JP Morgan added that incidents like the oil spill in the Gulf of Mexico will not have significant impact on the market.  That is because supply of oil is still dominated by the Organization of Petroleum Exporting Countries (OPEC).
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