London, United Kingdom (PressExposure) January 14, 2010 -- Sources close to analysts at "Zen International" suggest that the unexpected rise in America's oil inventories was unlikely to hold the price of crude below $80 a barrel thanks to the cold snap across the country.
Despite a 1.3 million barrel increase in crude stockpiles, crude oil remained stubbornly above the $82 mark and the Asia-based investment house is thought to expect the price to touch $100 barrel at some point in 2010.
"Zen International" analysts are thought to feel that despite the US dollar's current rally, the long-term outlook seems to suggest that the downward trend for the world's reserve currency remains in effect and this will have an impact on the oil price.
"Zen International" continues to advise clients to acquire holdings in oil producers and refiners as the recovery in emerging markets continues to gain pace adding that the developed economies would recover eventually resulting in further pressure on current supplies.
The price of crude reached a record $147 a barrel in the summer of 2008 before collapsing to just over $30 a barrel in the aftermath of the huge deleveraging caused by the collapse of Lehman Brothers and fears of lack of demand in the face of a looming global recession.