Wednesday, May 7, 2008

Oil price 'may hit $200 a barrel'

The price of crude oil could soar to $200 a barrel in as little as six months, as supply continues to struggle to meet demand, a report has warned.

With benchmark US light crude passing the $122 mark for the first time on Tuesday, the warning comes from Goldman Sachs energy strategist Argun Murti.

Surging demand was increasingly likely to create a "super-spike" past $200 in six months to two years' time, he said.

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