Oil prices have regained some of their recent losses, yesterday, but they are lower again this morning in reaction to the move by China to devalue its currency. Brent crude oil prices retook the $50 level for a time, but are back under that level now. The major bank analysts have uniformly thrown in the towel on their price forecasts, lowering estimates across-the-board. Goldman kicked it off last week, and Morgan Stanley, JP Morgan, and Soc Gen have all followed suit yesterday and today. We have gotten some recent attention for our forecast of prices hitting $30 in the October time period.
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