Brent Oil may trade as high as $100/bbl in the depth of winter – TDS
|WTI and Brent are over $81/bbl and 84/bbl, respectively. According to strategists at TD Securities, the bull run is not over, Brent Oil could soar as high as $100/bbl.
Extra call on petroleum products due to the energy crisis in Asia and Europe
“We project that the world will see a deficit in the last three months of 2021 and likely in early winter months of 2022.”
“With distillate product inventories at below the five-year average and significantly below normal natural gas stocks in Europe and Asia, an unusually cold winter can significantly increase the call on petroleum products which could see Brent, at least for a time, hit $100+/bbl, along with strength in fuel oils.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.