“Oil will resume its march toward $100 a barrel after a “correction,” said Jim Rogers, who predicted the start of the commodities rally in 1999.
“I’m just not smart enough to know how far down it will go and how long it will stay, but I do know that within the context of the bull market, oil will go over $100,” Rogers said in a Tokyo interview. “It will go over $150. Whether that is in 2009 or 2013, I don’t have a clue, but I know it’s going to happen.”
Crude oil in New York has fallen 34 percent to a 19-month low since it peaked at a record $78.40 a barrel in July. Rogers, author of “Hot Commodities,” has said oil will keep rising because there hasn’t been a major discovery for 30 years and economic growth in China and across Asia is driving up demand.
Rogers, 64, who created a series of commodities indexes and foresees a long-term bull market in oil, metals and grains, said he hadn’t changed his positive view. The Rogers International Commodity Index, which more than doubled in the past five years, has dropped 13 percent in six months on a total return basis.
“When you have big bull markets, 50 percent corrections, or retractions, are normal,” he said in an interview yesterday. “It has often happened throughout history in a bull market.” Bloomberg
Deutsche Bank AG, Europe’s biggest securities firm, said falling commodities prices in the past month don’t indicate the end of a rally that began five years ago, in contrast to a forecast from rival ABN Amro Holding NV.
Commodities prices are undergoing a “recurrent correction in a continuing bull run,” and could stay high for an extended period, the bank’s Michael Lewis, Peter Richardson and other analysts said in a January 12 report. Prices of nickel, zinc, gold and grains could rise further this year, the bank said.
The Reuters/Jefferies CRB index of 19 commodities has fallen 9.6% since the end of November, and Dutch bank ABN Amro said on January 9 the slump was “the definitive end” of a rally in base metals. The Financial Express
Alle commodity prijzen zullen de komende jaren/decennia blijven stijgen, speculanten creereren ‘onverklaarbare’ hobbels in de weg omhoog maar de algehele trend is: grondstoffen en ruimte raken op, dus alles wat grondstof en ruimte nodig heeft wordt duurder.
(en nu lekker allemaal de euro de schuld geven…)
#5
mescaline
Wel grappig te zien in het stukje over de handelaren hoe weinig waarde alle “verklaringen” (babbels) hebben.
#6
Yevgeny Podorkin
Gisteren zond panorama (canvas) ”Energy war” van VPRO uit. Nog niet gezien. Die uitleg van Friedman: ”Wij zijn de verslaafden en zij zijn de pushers” en hoe hoger de olieprijs des te groter de mond van een Chavez of Putin en vice versa…..
Reacties (6)
Lang leve de macht van de handelaar! Toch?
(btw: “Dit slaat wel hout…”? Uitdrukkingen zijn ook niet meer wat het geweest is)
Edoch lees ook:
“Oil will resume its march toward $100 a barrel after a “correction,” said Jim Rogers, who predicted the start of the commodities rally in 1999.
“I’m just not smart enough to know how far down it will go and how long it will stay, but I do know that within the context of the bull market, oil will go over $100,” Rogers said in a Tokyo interview. “It will go over $150. Whether that is in 2009 or 2013, I don’t have a clue, but I know it’s going to happen.”
Crude oil in New York has fallen 34 percent to a 19-month low since it peaked at a record $78.40 a barrel in July. Rogers, author of “Hot Commodities,” has said oil will keep rising because there hasn’t been a major discovery for 30 years and economic growth in China and across Asia is driving up demand.
Rogers, 64, who created a series of commodities indexes and foresees a long-term bull market in oil, metals and grains, said he hadn’t changed his positive view. The Rogers International Commodity Index, which more than doubled in the past five years, has dropped 13 percent in six months on a total return basis.
“When you have big bull markets, 50 percent corrections, or retractions, are normal,” he said in an interview yesterday. “It has often happened throughout history in a bull market.”
Bloomberg
En Deutsche Bank vs. ABN AMRO
Deutsche Bank AG, Europe’s biggest securities firm, said falling commodities prices in the past month don’t indicate the end of a rally that began five years ago, in contrast to a forecast from rival ABN Amro Holding NV.
Commodities prices are undergoing a “recurrent correction in a continuing bull run,” and could stay high for an extended period, the bank’s Michael Lewis, Peter Richardson and other analysts said in a January 12 report. Prices of nickel, zinc, gold and grains could rise further this year, the bank said.
The Reuters/Jefferies CRB index of 19 commodities has fallen 9.6% since the end of November, and Dutch bank ABN Amro said on January 9 the slump was “the definitive end” of a rally in base metals.
The Financial Express
Alle commodity prijzen zullen de komende jaren/decennia blijven stijgen, speculanten creereren ‘onverklaarbare’ hobbels in de weg omhoog maar de algehele trend is: grondstoffen en ruimte raken op, dus alles wat grondstof en ruimte nodig heeft wordt duurder.
(en nu lekker allemaal de euro de schuld geven…)
Wel grappig te zien in het stukje over de handelaren hoe weinig waarde alle “verklaringen” (babbels) hebben.
Gisteren zond panorama (canvas) ”Energy war” van VPRO uit. Nog niet gezien. Die uitleg van Friedman: ”Wij zijn de verslaafden en zij zijn de pushers” en hoe hoger de olieprijs des te groter de mond van een Chavez of Putin en vice versa…..
…alsof hij uit Pinkeltje voorlas….