WSJ: Oil could face resistance to $100 threshold

from The Wall Street Journal online (subscription)
By Matt Chambers:

If oil prices have difficulty clearing the $100 milestone, psychology might be one reason why.

Expectations for tight year-end supply and other factors that have driven crude to record heights aren't likely to diminish soon. But psychological resistance to triple-figure oil and a nagging feeling that prices have run too high, too soon could keep crude from reaching $100 a barrel before year's end, as traders decide to lock in gains instead, analysts say.


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