Alaron Trading Energy Analyst Sees Oil At $40/Barrel.Business Editors/Energy & Oil Industry Writers CHICAGO--(BUSINESS WIRE)--Sept. 12, 2000 Consumer Gas Prices Could Reach $2.00/Gallon "Too Little Too Late" Phil Flynn Philip "Phil" Flynn (b. 1940, Dundalk, Ireland) is an Irish businessman. He was previously a vice-president of Sinn Féin, a trade unionist, an industrial relations consultant, a government advisor and a financier. , leading energy market analyst and Vice President at Alaron Trading Corporation, believes that all the variables are in place for crude oil prices to approach the Gulf War highs of $40 per barrel. World oil prices closed Friday, September 8, at $33.70/barrel in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Flynn notes tight US petroleum supplies, increasing demand as colder autumn and winter weather approaches, and continued doubts that Saudi Arabian oil production increases will make much of a difference. "800,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. is the agreed upon Adj. 1. agreed upon - constituted or contracted by stipulation or agreement; "stipulatory obligations" stipulatory noncontroversial, uncontroversial - not likely to arouse controversy OPEC OPEC: see Organization of Petroleum Exporting Countries. OPEC in full Organization of the Petroleum Exporting Countries Multinational organization established in 1960 to coordinate the petroleum production and export policies of its increase," Flynn said. "This will be too little too late." "Consumers will again be looking at $2 per gallon. This could be the beginning of the end for the gas guzzling generation." Flynn said. Flynn, who has forecast higher oil prices since early 1999 when oil was trading at around $10.00/barrel, downplays the results of the most-recent OPEC meeting in Vienna, noting that OPEC's last promise to raise output in early July of this year was short-lived. "As we approach the winter months and the demand continues to increase, there is not much that can take down this charging bull." Flynn said. Headquartered in Chicago, Alaron (www.alaron.com) is a national online discount and full-service retail brokerage firm, serving individual investors in futures and options on futures markets with research, order execution and managed investment products, including a recently launched Managed Futures Managed Futures In the context of hedge funds, a style of management that focuses on short-term trading in the futures market. division. There is a substantial risk of loss in trading futures and options. |
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