About Those $100 a Barrel Oil Predictions

As you've no doubt heard, Goldman Sachs produced some research last week suggesting the oil prices could spike to $100/barrel. I admittedly no nothing about the oil market, nor do I have any particular insight into Goldman's positions, its research, or what could have led it to make such a prediction. My only thought at the time was that it sure sounded similar to some of those Tech darling brokerage reports we heard in the mid to late 90's.

No comes today's governmental report that says while consumption is up, supplies are up even higher. Guess what.....oil dropped today. Maybe this is a snapshot and Goldman will ultimately be proven correct.

Wouldn't be interesting though if it turned out they were long on oil, and positioned to take advantage of a $100/barrel price? Wouldn't it be more interesting if oil continued to fall?