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Whispers of $100 Oil Return as Crude Shakes Off Covid’s Clasp

  • Socar Trading, Bank of America see possibility of $100 crude
  • OPEC has enough spare capacity to meet any demand surge: BI
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Watch: Oil markets are eyeing tightening global supplies and a comeback in demand. (Source: Bloomberg)
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While oil’s dizzying collapse is still fresh for many traders, rumblings are starting to emerge that by the end of next year prices could once again top $100 a barrel.

Azerbaijan’s Socar Trading SA predicts global benchmark Brent could hit triple digits in the next 18 to 24 months, and Bank of America sees potential spikes above $100 over the next few years on improving fundamentals and global stimulus. Speculators are also getting in on the action, increasing bets in the options market that oil will reach the vaunted level by December 2022.