CLSA report: Crude oil price above $100+

CLSA is bullish on crude oil prices, and sees it zooming to $100 per barrel after the short-term correction.

The research house, in a report released on January 17, said: "The decline in oil that commenced in the summer of 2006 does not change the
long-term bullish technical outlook.

"The advance that broke above the 30-year ceiling in 2004 is not complete, and eventually a move above $100 per barrel is anticipated. Shorter-term, the decline from the July peak is close to completion."

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