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With oil hitting new highs again, below we highlight the average commodity analyst price forecast for Q3 '07, Q1 '08 and Q4 '08. As shown, analysts (as surveyed by Bloomberg) are expecting declines in the commodity through year-end 2008. Expectations for the end of this quarter are $66.87, $11+ lower than current prices. Q1 '08 expectations are $63.35, and Q4 '08 expectations are $58.50. We haven't seen oil in the $50s since March.

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Source: Forecasts Show Crude Prices Falling Steadily