In a July 8 feature, Boone Pickens told CNBC he’s sticking with $150 oil for 2008. But where did Lehman Bros. see oil?

Also on Tuesday, JP Morgan (JPM - Annual Report) said U.S. crude futures may hit $150 later this month, while Lehman Brothers (LEH) raised its oil price forecast to an average $127 a barrel for 2008 from its previous assumption of $105.

I continue to knock on every piece of wood, artificial or otherwise, as we continue to stake through this earnings period without a major blowup. With so many positions this is a bit uncanny - and my assumption will be this only means next earnings period we'll be taking some body blows as what the market gives, she takes away soon enough. But for now we enjoy. Deep sea oil driller Atwood Oceanics (ATW) reports a serious beat on the bottom line and a solid beat on the top line tonight. This continues the pattern in the sector and it only gets better from here as old contracts disappear and new contracts get signed at much higher rates. Analysts have estimated $6.71 for 2008 profits and $10.49 for 2009... I continue to believe this entire group is sadly undervalued as it's been treated as a CYCLICAL ...