SPECIAL REPORT: Oil market heading for surprises in ’08

This year the oil market will see a few surprises. Commodity price volatility will continue, but it will moderate, and prices will move lower.The US economy will grow at a much slower pace than during 2007, and there is still some risk of entering a recession this year. That risk is abated, though, by the strength of US exports. The weak dollar relative to other major currencies will drive strong export demand this year.As motor gasoline prices decline, gasoline consumption will strengthen again following 2 years of flat demand. Demand growth will be muted, though, as inflation across consumer spending dents personal spending power.EarningsUS company earnings this year will be less robust...

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