Trading Giant Trafigura Sees Oil Headed To $150 This Year ...Middle East

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Trading Giant Trafigura Sees Oil Headed To $150 This Year
source : OILPRICE ( Middle East ) () 2
Crude oil prices may soon hit $150 per barrel or more this year, Trafigura’s CEO Jeremy Weir told the FT Global Boardroom conference on Tuesday. The spike in crude oil prices would likely trigger demand destruction for the commodity, Weir added. The forecast is just $10 per barrel over where Brent prices shot up to in March shortly after Russia invaded Ukraine. Bullish factors continue to be the Russia factor—with the EU recently agreeing to an embargo on imported Russian oil, although that will not go into full effect for many months—as…

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