Submitted by David Kuan11.20.2008
After soaring to new record highs in summer of 2008 almost reaching $150/barrel, crude oil prices has fallen precipitously. On November 19, crude oil prices dipped below $50/barrel. Dwindling demands, global crisis and looming recession continues to put downward pressure on crude oil pricing. Deutsche Bank sees a $40/barrel in the near term.
Prediction: Will NYMEX crude oil price dip below $40/barrel? Judgment will be made based on CLOSING price as reported on http://www.bloomberg.com/energy/.
Let the community decide. Place your bets.
Reference articles:
http://www.msnbc.msn.com/id/12400801/
http://blogs.wsj.com/environmentalcapital/2008/11/19/watch-out-below-oil...
Suggested Odds50.00%
Prediction Close Date:01.31.2009 (EST)
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Comments
This one has a definite chance of becoming true. Crude just fell to close at $43.67. Submit your vote soon to make it playable as it has an end of year judgment date.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ayZExSHSqlfA&refer=h...
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