Oil prices expected to stay above $100 this year
after close1 source ↓written by the desknot a recommendation
- crude rose
- 4%
- per barrel
- $105.94
- before stabilizing
- $105
Global oil prices are projected to remain in the low $100s for much of the year, according to JP Morgan. This forecast persists despite potential reopening of the Strait of Hormuz next month, as supply normalization is expected to take time. Recently, Brent crude rose over 4% to $105.94 per barrel before stabilizing around $105.
Not investment advice. For informational purposes only.