Crude at Mortgage Rates
In the environment of market fluctuations triggered by collapsed loans of subprime mortgage, oil futures could become one of the most stable financial instruments, forecasted the analysts of Lehman Brothers. The demand for oil hasn’t become weaker, the general outlook notwithstanding, while the forthcoming hurricane season in the United States may hike energy prices, should the investors decide the crude oil may rescue them from the losses suffered in other sectors of economy.
Yesterday, Lehman Brothers analyst Adam Robinson and his colleagues urged the business via WSJ to invest at large in the crude oil, never minding the slump on the stock exchanges. Oil futures may manifest the record yield this fall, the analyst predicted.
The forecast of the last report of IEA that the latter released on the first wave of the mortgage crisis was the daily decline of 100,000 barrels in the Q4 global consumption of crude oil. But IEA maintained the average annual outlook for demand, having supposed that the effect of the mortgage loan crisis won’t last for long. According to IEA, the demand will average 86 million barrels a day (the growth of 1.8 percent) during 2007, while the 2008 indicator will be 88.2 million (up 2.6 percent).
The OPEC nations are very skeptical when it comes to the potential drop in crude prices. Last week, for instance, OPEC even predicted higher demand for crude oil in the fourth quarter.
www.kommersant.com
All the Article in Russian as of Aug. 21, 2007
|
