Sterling Energy... after the FOG clears

For anyone to chart a rise in oil prices to circa $89, they would have to back it with some verbalisation in order to give it credibility in my eyes.

The Middle East is the only geo political area with the potential to send oil prices that high. If the forthcoming elections in Iraq fail miserably and/or someone takes out Iran's production facilities for weapon grade material, then maybe. It is very likely that OPEC will cut production levels to maintain say $40 a barrel in order to maintain economic progress. I can't see Putin taking too long to get production levels back up in the now State owned production company once owned by Yukos. Whilst the West might not be impressed by the manner in which things have been handled, I suspect China will have no such scruples in order to secure its oil supplies.