What do you expect from the oil market? Are you expecting oil price to at least go down a little bit? Last week yes, it fell down a bit lower. But now, oil price becomes more unaffordable as it already hits near $123 per barrel. What is happening to our oil management sector? the OPEC? Isn't it time to act?
Separately, the U.S. government again raised its short-term price forecasts for crude oil and gasoline. The Energy Department now expects average monthly gasoline prices should peak at $3.73 a gallon in June, while regular-grade gasoline is expected to average $3.52 a gallon this year.
At the pump, the national average price of a gallon of regular gas slipped 0.1 cent overnight to $3.61, according to AAA and the Oil Price Information Service.
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