RE:RE:oil to hit 100$ a bbl by end of summer? War, hedge funds and China: why oil will hit $100 a barrel
Oil prices are heading higher and could soon return to $100 per barrel as war in the Middle East and speculators drive market
It wouldn’t be the first time that oil experts have got it spectacularly wrong when predicting the price of crude.
Goldman Sachs went against the prevailing mood in 2008 when it famously predicted that crude would hit $200 per barrel within months. Instead, oil crashed to levels around $40 per barrel as the global financial crisis punctured world demand.
But instead of falling, oil has rallied strongly. Brent crude now trading above $63 per barrel is up 36pc since reaching its year low in early January. At this rate oil will be back at $100 per barrel by the end of the summer driving season in the US....
...Here are six reasons why oil is heading back to $100:..."
Lots more but this is the gist of it.