Rogers Says Oil Will Rise to $100 After `Correction' (Update6)

By Wendy Pugh and Yasumasa Song

Jan. 18 (Bloomberg) -- Oil will resume its march toward $100 a barrel after a ``correction,'' said Jim Rogers, who predicted the start of the commodities rally in 1999.

``I'm just not smart enough to know how far down it will go and how long it will stay, but I do know that within the context of the bull market, oil will go over $100,'' Rogers said in a Tokyo interview. ``It will go over $150. Whether that is in 2009 or 2013, I don't have a clue, but I know it's going to happen.''

Crude oil in New York has fallen 34 percent to a 19-month low since it peaked at a record $78.40 a barrel in July. Rogers, author of ``Hot Commodities,'' has said oil will keep rising because there hasn't been a major discovery for 30 years and economic growth in China and across Asia is driving up demand.