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Oil Is Heading Well Into The $90 Range
The oil market is in a bullish move and heading well into the $90 per barrel range, Bob McNally, President at Rapidan Energy, told CNBC’s Squawk Box program on Monday. Oil hitting $100 per barrel is “entirely possible,” McNally added. “Oil prices are climbing a wall of doubt and skepticism,” he said. So far, traders have been focused on the lack of a significant drop in Russian supply. The market is also “dancing in a macro minefield,” McNally told CNBC. “There are good reasons to be skeptical. But fundamentals are fundamentals. OPEC+ is going to put a huge deficit into the market into the second ... (full story)