Friday, June 18th, 2021
The months-long oil price rally hit the pause button this week, following a shift in outlook from the U.S. Federal Reserve. “Inflation is your friend until it isn’t,” Louise Dickson of Rystad Energy said in a statement. “The oil market is re-learning this lesson in the past two trading days after the US central bank hinted at potential interest rate hikes in 2023, which would make oil more expensive in non-dollar denominated economies and could damper demand.”
$100 oil looking more likely. Many oil traders see oil remaining above $70 per barrel for the foreseeable future, with $100 oil no longer an impossibility.
READ: https://www.reuters.com/business/energy ... 021-06-15/
More "Experts" think oil could go over $100/bbl - June 18
More "Experts" think oil could go over $100/bbl - June 18
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group