Just when central banks are at or approaching the end of interest rate hiking cycle, analysts are warming up to the idea of '$100 oil' again.
The rally in the oil prices since June has been mainly driven by the extended production cuts by Saudi Arabia keeping supply tight. More recently, the tragic events unfolding in the Middle East raises the potential for supply disruption. Global investor worries about inflation and central banks are 'rapidly diminishing' Meanwhile, the Energy Information Administration's (EIA) estimate for oil demand for this year has been revised up. It looks like oil consumption will outpace supply for the reminder of the year, so oil prices are likely to remain supported. It is best to avoid t...
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