Analyst Gurwitz: Oil Prices Will Surge, but Not Immediately

Monday, 23 Jun 2014 01:45 PM

By Melissa Clyne

  Comment  |
   Contact Us  |
|  A   A  
  Copy Shortlink
Crude oil prices, just below $108 per barrel, will surge north, but not before they dip for a while, according to David Gurwitz, managing director at Charles Nenner Research, which forecasts markets based on independent research.

Gurwitz appeared Monday on Newsmax TV’s "America’s Forum."

Story continues below video.

Note: Watch Newsmax TV now on DIRECTV Ch. 349 and DISH Ch. 223
Get Newsmax TV on your cable system – Click Here Now

"They're down now," he said. "They're going to come back up to our target of $122, but it's approaching our short-term target of $108, and it's going to head down for a while first," he said. "So it will go up there based on its own cycles and also based on another set of cycles we look at."

The expected increase, according to Gurwitz, isn’t necessarily tied to the unrest in the Middle East, where the Sunni militant group ISIS (Islamic State of Iraq and Syria) has seized control of a number of cities in Iraq, but something known as war cycles, which predict market trends based on both national and international conflicts. The war cycle concept is a complex formula that forecasts economic trends based on historical conflict cycles that can run in 50-, 80-, or 100-year increments.

"The news is showing horrible things going on, but crude prices are topping because cycles are topping, and they're actually heading down," he explained.

Iraq is just one of several "hot spots" around the globe, according to Gurwitz, who said natural gas is also predicted to drop to $2 per million btus before it starts climbing again. It’s currently $4.50. Seven years ago it sold for $14.

Gurwitz’s other predictions:
  • Gold and silver will go up.
  • Grain prices will increase over the long term.
  • Stocks have a very poor outlook until 2020.
"Stocks are near a top," he forecasted. "2020 looks like it's going to be an incredible time for stocks. So shorter term, it doesn't look very good, according to us, but again, it's important, [the stock market] could be sideways for a while and not a major crash downward, though there could be one violent move coming soon, and that's why it's important that people at least pay attention to what we consider fundamentals called cycles."

Related Stories:

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact Us  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Howie Carr: Mass. Gov. Race Looking Good for GOP's Baker

Friday, 31 Oct 2014 12:15 PM

Boston Herald columnist and radio host Howie Carr joined J.D. Hayworth on "America's Forum" on Newsmax TV Friday to disc . . .

Jenny Beth Martin: Tea Party Driving Midterm Issues

Friday, 31 Oct 2014 11:30 AM

As the midterm elections are coming to a close Tuesday, president and founder of the Tea Party Patriots tells Newsmax th . . .

Malaria Victim: Medical Care in Africa Comes With Challenges

Friday, 31 Oct 2014 10:17 AM

Kristen Kenney, who contracted malaria while in Tanzania, joined "America's Forum" Friday to talk about her experience a . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved