Crude could hit $100 US by 2012

Posted Dec 7, 2010 8:17 am.

This article is more than 5 years old.

Oil could break the $100 mark by 2012.

CIBC World Markets is forecasting crude prices to average at $86 US a barrel for most of next year before hitting the triple digits.

Market experts say more demand for gasoline and diesel and a falling US dollar will fuel the rising trend.

Oil hit a two-month high early on Tuesday trading over $90.50 US.

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