Worry About $100 Oil Emerges - Feb 28
Posted: Sun Feb 28, 2021 1:03 pm
Oil prices were last above $100 in August 2014, as the world's economy surged back from The Great Recession. Short supply from the North Sea and Libya were the other primary culprits. By, February 2015, as more supply came online, crude dropped to $55, slightly below where it is today. Crude as of last week reached $63, a 52-week high, and run-up of 69% since early November. Global supply and demand circumstances have renewed anxiety that crude will trade back toward $100 within a year.
According to Barron's, several experts who believe that $100 oil is a possibility have made cases recently: "Oil prices have risen above even the most bullish analysts’ projections so far this year. And now analysts are hiking those projections, implying that the run is far from over. In fact, some see a chance that oil could actually hit $100 a barrel again, a milestone that had seemed impossible just two years ago."
Read more: https://www.msn.com/en-us/money/markets ... d=msedgntp
According to Barron's, several experts who believe that $100 oil is a possibility have made cases recently: "Oil prices have risen above even the most bullish analysts’ projections so far this year. And now analysts are hiking those projections, implying that the run is far from over. In fact, some see a chance that oil could actually hit $100 a barrel again, a milestone that had seemed impossible just two years ago."
Read more: https://www.msn.com/en-us/money/markets ... d=msedgntp