OilPrice.com: Bank Of America Sees $120 Oil By June 2022
The Brent crude benchmark will hit $120 per barrel by the end of June 2022, Bank of America said in a research note this week, cited by Bloomberg.
The catalyst for BofA’s increased price forecast is the current global energy crisis that has seen prices for crude oil, coal, natural gas, and LNG skyrocket as the market tightens.
Just a month ago, BofA had forecast that oil could reach $100 over the next six months—and that was if we had a winter that was colder than usual.
At the time, this was expected to be the most important driver of the global energy markets.
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Update #1: Brent crude headed for $120 by end of June, Bank of America says (Bloomberg)
Update #2: Bank Of America Sees Oil Hitting $120 By June; Could Rise Much Higher (Zero Hedge)
WNU Editor: Supply and demand at work. At these prices, if stable, will be a boom for frackers.
3 comments:
Joe begged OPEX and Russia to pump more oil. When he begs next, he could get on his knees and ...
Why worry about oil prices when America has a Gulag?
"DeGrave’s letter alleged “extreme medical neglect,” mental and physical abuse, “unlivable conditions,” dirty water, and starvation. His allegations resulted in a surprise inspection to back up his claims."
AMERICAN GULAG
“evidence of systemic mistreatment of detainees, including unsanitary living conditions and the punitive denial of food and water,”
just like DeGrave’s letter claimed. Not only that, but the officials found
“large amounts of standing human sewage… in the toilets of multiple occupied cells,”
and staff members were observed
“antagonizing detainees” and “directing detainees to not cooperate” with the inspectors.
AMERICAN GULAG
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