Why have oil prices been down lately even with the Iran oil embargo in place, and when will oil prices pick back up?
Dr. Kent Moors, Global Energy Strategist for Money Morning, tackled those questions today (Friday) on Fox Business and gave his latest prediction on the future for oil prices.
Despite the high level of worldwide supply for oil, Moors expects oil to rise from the amount of global demand. He noted that the effects of the embargo have been overshadowed by Europe's debt crisis and once those sanctions are felt oil will start to rise.
You can see all of Moors' analysis on oil prices in the accompanying video.
Loading the player ...
Tags: Crude Oil, investing in oil, iran oil crisis, iran oil embargo, oil price forecast, oil price rise, Oil Prices, oil stock strategy, oil stocks, oil strategy, price of oil
Oil Prices Look For Steady Rebound
July 06, 2012 at 15:46 PM EDT
Why have oil prices been down lately even with the Iran oil embargo in place, and when will oil prices pick back up? Dr. Kent Moors, Global Energy Strategist for Money Morning, tackled those questions today (Friday) on Fox Business and gave his latest prediction on the future for oil prices. Despite the high level of worldwide supply for oil, Moors expects oil to rise from the amount of global demand. He noted that the effects of the embargo have been overshadowed by Europe's debt crisis and once those sanctions are felt oil will start to rise. You can see all of Moors' analysis on oil prices in the accompanying video.