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Oil May Hit $100 on Geopolitics: Kilduff

Thursday, 24 Dec 2009 | 2:04 PM ET

Light, sweet crude is holding above $76 Thursday on reports of a U.S. supply fall. What's next? John Kilduff, co-chief investment officer of Round Earth Capital (and a CNBC contributor), and Chris Jarvis, president of Caprock Risk Management, offered CNBC their outlooks on oil, natural gas and the 2010 economy.

Santa Claus Rally for Oil and Nat Gas
Discussing whether oil prices will continue to climb, John Kilduff, Round Earth Capital co-CIO and Chris Jarvis, Caprock Risk Management.

"Jobs data will be center stage [in early 2010] and will continue to be for some time," Jarvis said.

"If we get some good jobs growth, the dollar could firm up and that would take some of the steam out of oil."

But Kilduff had a different take:

"I'm worried about several geopolitical fronts out there that are going to stoke crude oil prices," Kilduff said.

"I think first above $85 real quickly [in 2010], and then I see oil possibly at $100 by the first half of the year."

For Jarvis' take on refineries, gasoline and pension funds' influence on oil, watch the full interview.

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Top Oil Sellers and Refiners:

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Disclosures:

Disclosure information was not available for Kilduff, Jarvis or their companies.

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