Crude Oil Price on Aug 11, 2008

• 53%
  accuracy

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Oil prices climbed to record highs above $147 a barrel in early July, but have since fallen more than $22 as reports have indicated that record high prices of crude oil and gas have been motivating consumers to lower their demand. One of the reasons oil prices have come off so sharply in recent weeks is that global demand has been slumping but OPEC continues to report that oil production is on the rise.

On July 28, Oil prices oscillated as investors watched geopolitical tensions in oil-rich countries mount. U.S. crude for September delivery was up 31 cents to $123.57 a barrel on the New York Mercantile Exchange. Prices rose as much as $1.96 a barrel and dipped as much as 63 cents a barrel during morning trading as investors weighed supply concerns with declining demand.

The oil price on July 28 is about $123.
real-time price: http://www.bloomberg.com/...

Community Prediction in Chance

Community Accuracy:  53%

Top Predictor:   scutdx2005 (75% Accuracy)

(show accuracy distribution▼)

Rank Accuracy A >= 90% B >= 80% C >= 70% D >= 60% E >= 40% F < 40%

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	ZiiValue (chance)	Answer	MyValue (0% to 100% chance)	Possible Outcomes
	1%			> $140
	13%			$130 - $140
	35%			$120 - $130
	40%			$110 - $120
	11%			< $110

STEP 2:  Comment

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