石油：看涨

????2011年下半年油价回落是因为全球最大的能源消费国——美国显露出了二次探底的迹象，而欧洲的债务危机也愈演愈烈。但是，即便2012年美国经济依然低迷，也不太可能把油价拉低太多。

????12月份高盛预计由于原油供应仍旧紧张，当前约为108美元/桶的布伦特原油价格到2012年底将达到127.50美元/桶。导致原油供应紧张的因素包括在可以预见的未来利比亚原油产量下跌、地缘政治风险和其他因素。

Oil: Bull

????During the second half of 2011, oil prices slid as the U.S., the world's biggest energy consumer, showed signs that it was headed for another recession amid the backdrop of a deepening debt crisis in Europe. But even if the U.S. economy continues to slog through in 2012, that's not likely going drive oil prices down much.

????In December, Goldman Sachs forecast the price for Brent oil, which is currently trading at around $108 a barrel, will reach $127.50 by end of 2012 as supply remains tight. This is partly due to Libya's loss of oil production for the foreseeable future, geopolitical risks and other factors.