Prices have tumbled for crude to be delivered over the rest of this year, but anticipated rising...

|By:, SA News Editor

Prices have tumbled for crude to be delivered over the rest of this year, but anticipated rising drilling costs are propping up long-term oil futures above $90/barrel. "You need a certain [price] level for all these high-priced resources that are coming on-stream, deepwater Gulf of Mexico, deepwater Brazil and the Canadian oil sands," one analyst says.