"On the upside, if you look at some other commodities like copper, then obviously oil prices could go up substantially even from these levels. I don't think that oil is expensive compared to other commodities or compared to other goods prices in the world.
Further gains would obviously depend on some political problems — some interruptions in oil supplies or a possibility of the global economy experiencing some kind of a crack-up boom.
Crack-up booms don't last. They are not sustainable but they can last between six and 18 months and then a renewed setback occurs in the global economy." in CNBC
Related: iPath S&P GSCI Crude Oil Total Return (NYSE:OIL), United States Oil Fund LP (ETF) (NYSE:USO), Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (Public, NYSE:CVX), Halliburton Company (NYSE:HAL) , Schlumberger Limited. (NYSE:SLB), Repsol YPF, S.A. (ADR) (NYSE:REP)
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
