More "Experts" think oil could go over $100/bbl - June 18

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dan_s
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More "Experts" think oil could go over $100/bbl - June 18

Post by dan_s »

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/
Dan Steffens
Energy Prospectus Group
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