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Crude Oil Prices: Bears Will Soon Win Out

Posted on May 26, 2008

Nextweek, I plan to start lightening up on some of my energy holdings.There are both bullish and bearish arguments on future crude oilprices, but I think the bearish case may soon start to win out. Some ofthe recent price appreciation is merely a reflection of the weak USdollar, but a lot of the move is also due to speculative sentiment.There have also been erratic price moves as many crude oil forwardmonths have moved from backwardation to contango back to backwardation again.Let's start with some of the bullish arguments-...

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backwardation , crude , speculative