Bank Of America Says Oil Price will Hit $`120 Per Barrel By Summer 2022

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. 

Read more ....  

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.

from War News Updates https://ift.tt/3CJZ89M