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Oil May Hit $100 on Geopolitics: Kilduff
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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.
"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."
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Top Oil Sellers and Refiners:
Exxon Mobil [XOM
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Chevron [CVX
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ConocoPhillips [COP
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Valero Energy [VLO
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Marathon Oil [MRO
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Disclosures:
Disclosure information was not available for Kilduff, Jarvis or their companies.
Data is a real-time snapshot *Data is delayed at least 15 minutes
