Oil Prices: Will Crude Fall Substantially In 2013?

Concerning where the price of oil is headed in the next 12 months, my local car mechanic’s analysis here in the New York metropolitan area probably is as good as any other oil market analyst's: “The price of oil? Over the next year it’s guaranteed to be between $40 and $140 a barrel,” my mechanic said. Oil closed Friday at $90.14 per barrel, down $1.96. (Oil hit an all-time high of $147.27 per