Analysts: Don't Be Fooled By Oil Dip

Crude oil prices rose moderately Monday -- but gasoline futures hit a seven-month high. Where are the raw and refined fuels headed this year? Two energy analysts had one answer for CNBC's Erin Burnett: up.

Addison Armstrong, an analyst at TFS Energy, reminded "Street Signs" viewers that the April contract expires Tuesday -- thus leading to a crude sell-off and slightly softer prices. But he foresees a new record being hit this summer, citing tight supplies, low refinery runs -- and no OPEC meeting until September.

Oil & the Economy
Oil & the Economy   

Saad Rahim, manager of the Country Strategies Group at PFC Energy, said the crude price slide of late was in response to the recent OPEC meeting -- and not in response to fundamentals. He augured that the near-term will see a small price drop -- until "gasoline season," which will bring a strong rise. Rahim said that oil may return to $60 a barrel by year's end -- and may even hit $65. But he opined that a recession is "not a risk right now," as it'd take a slowdown "a long time to feed through" the economy.