The international benchmark Brent will reach a price of 120 dollars per barrel by the end of June 2022. This is according to analysts from Bank of America, writes Oilprice.
The reason for this forecast is the current global energy crisis. The prices of crude oil, coal and natural gas are already too high. Just a month ago, Bank of America predicted that oil could reach $ 100 in the next six months, provided the winter is severe and cold.
In addition, several oil traders have already said that the price of 100 dollars is a growing reality, writes Bloomberg. Meanwhile, strong demand is already outpacing supply, and a slowdown in investment in new sources threatens reserves. Demand will continue to outpace supply in the coming months.
Against this background, increasing demand for automotive fuels may accelerate the rally in 2022, analysts say.
Raw Brent is once again approaching the $ 85 per barrel threshold.
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