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JPMorgan Sees Oil Prices Climbing as Alternatives Fall Short

  • Renewable, coal and gas supplies insufficient to replace crude
  • JPMorgan’s Malek reiterates bank’s $150-a-barrel forecast
    

    

Photographer: Kristian Helgesen/Bloomberg

Oil prices will be pushed higher as demand outpaces supply and alternative energy sources such as natural gas and renewables fail to plug the gap, according to JPMorgan Chase & Co.

Christyan Malek, the bank’s global head of energy strategy, reiterated his $150-a-barrel price forecast during an interview with Bloomberg TV on Tuesday.