RJ Oil Price Forecast

[dan_s]

I can live with this. The only hope for natural gas is a very cold December. That is the forecast.

Raymond James:

"Rarely do a single mid-sized nation's finances loom so ominously for the world's markets. Though Greece is not even a top-30 economy, the staggering degree of its debt burden and the exposure of major international banks to its troubles create an interconnected spider web. Because the end game of this sovereign debt crisis is largely binary, there is virtually zero visibility for the overall condition of the global economy - and thus oil prices - for the foreseeable future. And because we have no conviction either way, we are not comfortable making a direction call on oil, and thus we are revising our 2012 oil price forecast to roughly match the current futures strip: $100/Bbl Brent (down from $115/Bbl) and $85/Bbl WTI (down from $105/Bbl). While the near-term outlook for the oil market is extremely hazy, our view on U.S. natural gas is getting even more bearish, and so we are lowering our 2012 gas forecast from $4.25/Mcf to $4.00/Mcf."