In addition, should the release be structured as a loan rather than an outright sale, effectively borrowing futureoil today, market participants would perceive a more bullish forward balance.
The scramble to secure oil supplies now and into the future has contributed to the sharp increase in the price of oil on both the spot market and for future delivery.
He still suspects oil prices to shoot higher towards the end of the year once the market gets a better sense of future economic growth in the U.S. and Europe, both grappling with their own unique fiscal difficulties.
And we will keep on being a victim to shifts in the oilmarket until we finally get serious about a long-term policy for a secure, affordable energy future.