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Faber Says Oil May Decline as Global Growth Weakens

By admin - Posted on July 21st, 2008
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Marc Faber, who told investors to bail out of U.S. stocks before 1987's so-called Black Monday crash, said oil prices may fall to $100 a barrel as demand slows in a global economy at the 'tail end' of its expansion.

Accelerating inflation and rising interest rates worldwide are likely to dent the value of commodities including oil, said Faber at an investment forum in Sydney today. Real-estate in India and Cambodia were among his favored Asian investments, he said.

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