U.S. Oil Prices Will Average More Than $70/barrel by End of 2006

Barclays Capital analysts predict:

U.S. oil prices will average more than $70 a barrel by the end of 2006 on strong global demand and supply uncertainties from major oil exporters.

U.S. crude prices are unlikely to fall below $60 this year, they said.

Stubbornly high energy costs could cut into U.S. corporate earnings and consumer spending in 2006, Barclays analysts said at a press briefing on their second-quarter economic and market outlook.

My next car:

It's a hybrid - you can push it or peddle it.*


*What it runs on.