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International oil prices could rise to $100 per barrel

 Last Update: 2023-03-14
 Source: Internet
 Author: User

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Oil prices, which rose 50 percent in 2021 and will rise further this year, were reported by Bulgarian state radio on Jan.
13, with analysts predicting that insufficient capacity and limited investment in the sector could push crude prices to $100 and above
.
March Brent crude futures traded at about $84 a barrel on Wednesday, hitting a two-month high
.
WTI Light crude futures rose to just below $
82 per barrel for the first time since November 11, 2021.
Morgan Stanley predicts that Brent crude will reach $90 per barrel in the third quarter of this year, with a smaller margin of safety in the market due to the depletion of crude reserves and the prospect of low reserve capacity by the second half of 2022, as well as limited investment in the oil and gas sector
.
Standard Chartered raised its 2022 Brent crude forecast by $8 to $75 per barrel and its 2023 forecast by $17 to $
77 per barrel.
JPMorgan expects oil prices to rise to $
90 by the end of the year.

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