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Surging Physical Oil Market Brings $100 Crude Back in Sight
As crude futures leap higher, traders and analysts are increasingly talking about when — not if — prices return to $100 a barrel. Across the world, premiums for physical barrels are surging. Supplies from the Middle East, Azerbaijan and even Russia are commanding premiums as refiners clamber to make enough diesel ahead of a seasonal ramp up in demand. Bullish analysts argue that even with crude now in the mid-$90s, many funds remain underinvested in oil, creating the potential for higher prices yet to come. Chevron Corp. Chief Executive Officer Mike Wirth sees oil reaching $100 a barrel, he said in an interview ... (full story)
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- Posted: Sep 18, 2023 12:10pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 91
