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To business morning we've seen oil prices rising above 47 dollars a barrel mile in my -- fifty dollars -- in the future well we'll wait and see especially with the conflict ongoing in the Middle East.
Joining us from BDC partners this morning on good friend David peer to talk about oil David good morning to you and thanks as always -- For joining us I'll live with the -- -- Israeli troops now on the ground in Gaza.
It appears this conflict far from over at least for now is that gonna continue to help push oil prices -- Very happy new year if you rational for the gender and -- New York.
I think this is very much a political play with your question any doubt about it.
If you look at the Graf all the thinking -- dollars a barrel almost exactly a year period of -- of -- 147.
In July and to them of just about 35 dollars about the fifteenth of December.
Since then of course we've had this little -- -- local -- if you prefer in Gaza.
Which is seen of course advisable -- through -- -- 47 and change.
I think perhaps that we are -- -- a very volatile market between 35 or thirty dollars a barrel.
Up to say fifty dollars a barrel during the course of the next six weeks and this is -- going to be decided on whether this situation in Gaza is gonna come down.
Or whether it's quarter to trigger other problems and of irritation in other -- of the Middle East as well.
We're also assuming of course which is very important and it must be taken out of the equation nationally -- the Middle East has its own economic agenda.
And it doesn't want oil prices to pull through unfair they also have the ability of not -- having to be able to cut production.
Through OPEC and other areas but also they need to sustain a certain level because they've got huge expansion plans in their region.
And who's to say towards the end of the year at the -- to -- China and India raised its game a little bit.
All the analysts -- here in London believe that -- will be sixty dollars a barrel by the end of 2009.
And back to eighty dollars a barrel.
By the middle of 2010.
Well -- David what about this suspect going on between Russia and Ukraine over the natural gas supplies is that helping to -- prices a little bit as well.
-- and political instabilities during that but I think in the long term despite the fact.
That to mrs.
-- their conclusion would be very jingoistic.
And shaking their fifth Europe and the rest of the world about the price of gas that also have to be pragmatic and economically realistic.
Very Konami is hanging in racks so I'm hopeful that this faster -- supply of gas will be localized between themselves and Ukraine.
Because actually trying to trifle with Europe and the united kingdom of the guys.
Crude in terms of trade and other investments that they require going forward publishers who damaging effect -- -- stupid people are -- they realize.
Yet know that not all right David Buick thank you so much for joining us this morning -- talk about all we -- your kid didn't have.
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