Oil Could Hit $100 Barrel Soon - JPMorgan

Guardian - Chinese demand could push crude to $100 a barrel soon, according to JP Morgan, with the weaker dollar and restocking of French oil inventories once strikes end also helping to drive up oil prices.

"The key risk is that we are being too cautious and that the threat of $100 per barrel oil that is implicit in our fourth quarter 2011 oil forecast arrives much sooner than we expect – driven by not only a weak dollar, but also by rampant Chinese and emerging market demand and the rebuilding of French strategic stocks," said Lawrence Eagles of JP Morgan.

Read on at Guardian