Why oil's all-time high is just the start

When Goldman Sachs analyst Arjun Murti predicted a $100 oil superspike back in 2005, most commentators were sceptical. But now crude has topped the $80 mark, that superspike's looking more likely than ever.

When Goldman Sachs analyst Arjun Murti wrote a note to clients two years ago predicting a superspike in oil, most of the analyst community were sceptical. Murti was one of the first to forecast an oil price above $100 a barrel.

However, I suspect Mr Murti is now laughing at his detractors and, I hope, pointing out to them how wrong they all were. At that time, for example, Deutsche Bank was forecasting that oil in 2010 would hit a staggering $35 a barrel Give that analyst a large bonus not

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