NEWS / Foreign Exchange

Forecast for Crude Oil and world economy in 2008

There isnot analogy in the history with the price of the oil. Is the world in such acrisis for oil? The chart of the Crude Oil is solid into upward direction ingeometry progress. If we are using the strong raise of the oil prices and theweak dollar the levels of $100 are not just realistic, these levels are low.The long-term forecast for 2008 seems that the crude oil will be trading above$100. In World-Signals.com making a forecast for oil prices in 2008 between$140 and $180 for barrel. What will be the effect of such fantastic tradinglevels? First these levels will be not fantastic following the war against theterrorism. The oil is the most important weapon for the terrorists. The fearsby stopping of oil supply by the regions like Iraq and the whole Persian Gulfwill totally destroy the world economy. China continue to expand and using moreand more by the black gold. Russia is the big winner by the high oil prices andback on the world scene using the huge storages of oil. The world economy willsuffer more and more by the high oil prices and the huge inflation that willfollow. The high oil prices will jump everywhere the inflation. The dollar, notjust the dollar but also the euro the pound, the yen will be not the samecurrency. The investments will turn into goods and much more investors will buygold, oil, shares. It comes black times for the world economy.