Tags: Pimco | Oil | 100 | Fair | Price | 2011

Pimco: Oil at $100 Will Be ‘Fair Price’ in 2011

Tuesday, 16 Nov 2010 02:29 PM

Crude oil prices may be “modestly higher” a year from now at $100 a barrel, said Mihir Worah of Pacific Investment Management Co.

That represents “a fair price,” Worah said in an interview today on Bloomberg Television’s “Surveillance Midday” with Tom Keene. Worah runs the $18 billion Pimco Commodity Real Return Strategy Fund, the largest commodity mutual fund that tracks the Dow Jones-UBS Commodity Index.

Crude oil futures for December delivery dropped $2.27, or 2.7 percent, to $82.59 a barrel at 12:26 p.m. on the New York Mercantile Exchange. Through yesterday, the commodity gained 6.9 percent this year.

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Crude oil prices may be modestly higher a year from now at $100 a barrel, said Mihir Worah of Pacific Investment Management Co.That represents a fair price, Worah said in an interview today on Bloomberg Television s Surveillance Midday with Tom Keene. Worah runs the...
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Tuesday, 16 Nov 2010 02:29 PM
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