Wide predictions for oil prices in 2017
It's time for a breakout in oil prices, which direction depends on who you ask.
Bloomberg is out with a story on the breadth of the forecasts at a conference today in London.
"Towards the back end of next year we're going to be well above $60,"Jeremy Weir, of the forecasts at a conference today in London.
Separately, there is talk that more shale could come online and drive prices lower.
"Consensus is a dangerous thing, because consensus drives decision making and that decision making will have consequences" that could change the direction of prices, said Gunvor CEO Torbjoern Toernqvist.
Technically, a look at the monthly chart shows how much volatility has cooled in the past 8 months -- that can't last.
