Peak of Erudition

Crude oil price spiraling is continuing to haunt every major consuming economy, be it US, Europe, China or India. The crude oil prices touched a record high of 147 dollars recently and experts are saying that the prices are most likely to reach over 200 dollars in the coming year due to increasing demand and slow pace of growth in supplies. But there are certain contrarian, decade old experienced players, who are saying that the prices are most likely to fall down to realistic below 100 levels at least by 2009 beginning.