If violence escalates and keeps a chokehold on traffic, prices could reach $95 to $120 a barrel […] Brent crude averaged about $69 per barrel last year and currently is hovering around $100. Brent crude briefly peaked in late April, touching $126.
Shoddy writing. Prices could reach their current levels? Comes off as an article written weeks ago, then tuned to be “news”
Analysts at Bank of America last week forecast oil at $83 a barrel […]
[…] could produce spikes of up to $150 a barrel, the analysts wrote.
The article quotes analysts who published their findings last week.
Comes off as an article written weeks ago
So the article may not have been, but these quotes were.
Writing style is off, but the message seems to be that it’s expected to lower, but fighting could cause expectations to jump back to the current actual price level
I’m not sure who’s actually expecting it to go down to $83 though.
The thing is, who exactly expects the price to come down?
The only reason why prices are as “low” as they are now is that most countries are actively emptying their strategic reserves.
Pipelines and refineries are being blown up, so the supply of new oil is way down and likely will not recover any time soon, if at all.
Is this a Winnie the Pooh and Pedobear crossover episode?
China is definitely not doing this is a favor, but as a card in their deck to play if needed.
