/biz/ - Business & Finance

...And 123 has been crossed!

Today is the day my friends.

Tonight we dine on bull!

http://a.msn.com/r/2/AA9eysb?a=0&m=en-us

Tom Kloza, chief oil analyst at Oil Price Information Service, predicted that oil prices would bottom during the second quarter of the year "simultaneously to one of the expirations of the WTI contracts."

He noted that there were about 500,000 wells in the U.S. that produced fewer than 15 barrels of oil a day. "We're gonna fill up in storage, and it doesn't appear that there's any way around that," Kloza said.

He warned that the price of West Texas Intermediate crude could be in the $30s at some point in the second quarter.

"The big fields have not been shut in"

"The WTI brent spread could widen to 10. This should be good for refineries in the gulf"

>people claiming we bottomed already