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Oil prices to hit $120 barrel by September.

By Amanda Terkel on March 4, 2008 at 3:04 pm

"Oil prices to hit $120 barrel by September."

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Peter Barker-Homek, CEO of Abu Dhabi National Energy Co., predicts that crude oil prices may hit $120 a barrel within the next six months due to the “softness of the dollar and the occasional interruptions that you have because of politics.” Last October, Barker-Homek also predicted that oil prices would “rise to $100 from $80 before the end of the first quarter.”

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