BoA raises oil price forecast

Bank of America‘s energy analysts were busy this am; They raised their 2003-2004 oil price forecast to a 19% premium to the First Call consensus.

If BoA revised estimates are correct, this is potentially a significant drag on the economy. (Here’s an Oil chart).

On a related note, check out this recent chart on Gasoline prices:
Gasoline.gif
Source: Chart of the Day

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