Expect more energy price volatility price ahead, said Mark Waggoner, president of Excel Futures, and Rachel Ziemba, analyst at RGE Monitor.
“Oil prices could go to $84 within the month,” Waggoner told CNBC. “And then pull back as low as the $55 range. In the next two years, demand is going to pick up and oil will head up to the highs again.”
Waggoner said average gasoline prices will likely top $4 a gallon at the pump and suggested investors should buy it.
Ziemba said the change in demand of oil is not significant, but expects energy price volatility in the future.
“If we look at the global economy, we still see an economy that may not be bottoming out yet and the recovery is sluggish,” she said. “There is a risk that as oil prices and oil product prices edge up, it could choke off a recovery and make it harder for us to return to a sustainable growth.”
No immediate information was available for Waggoner or Ziemba. ______________________________
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