Categorized | Blogs, Ted Peroulakis

Oil Will Hit $100 Per Barrel by the End of the Year

Oil fell well below $70 per barrel as the U.S. dollar went up verses the euro and America’s unemployment rate rose to 9.5%.  I feel this is just a temporary pull back and believe oil will hit $100 per barrel by the end of the year.  Developing countries like China and India are demanding more oil–and the world is running out.  What’s more, it will take some time to get the massive amounts of oil in Iraq to the market.  Yesterday’s bidding on the licensing rights to develop the oil fields in Iraq fell apart for the most part due to disagreements on fee terms between the oil companies and the Iraqi government.

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This post was written by:

Ted Peroulakis

Ted Peroulakis - who has written 172 investment articles on Investors Daily Edge.


Ted’s passion is protecting and growing people’s wealth. He earned a Bachelor of Science degree in Finance from Florida State University and graduated at the top of his MBA class from the University of Miami, where he specialized in International Business. With more than 15 years of experience in the financial industry, Ted was trained in the World Trade Center by Morgan Stanley Dean Witter and was seasoned as a stock broker on Wall Street. He also has experience starting and running a successful financial firm. Ted is a valuable member of the Investor's Daily Edge staff as financial analyst and editorial contributor. Ted’s expertise is in showing investors how to invest and profit in natural resources, options, bonds, currencies, futures and stocks.


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