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    Home » Oil Prices Rose Over 45% In the First Half, Mixed Reactions on Higher Prices Past $100
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    Oil Prices Rose Over 45% In the First Half, Mixed Reactions on Higher Prices Past $100

    July 2, 20211 Min Read
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    Abstract man keeps oil prices. Concept of declining oil prices
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    Wall Street analysts express mixed reactions over the possibility for crude markets to climb even higher in the second half of 2021.

    • OPEC and the U.S. Energy Information Administration expect an increase in demand that would increase oil price.
    • Chief oil analyst at Morgan Stanley, Martijn Rats, suggests the crude oil markets were exploring prices that would neutralize the demand growth.
    • Analysts note that combined factors have led to an increase in oil prices, including the rollout of COVID-19 vaccinations, easing of pandemic restrictions, and colossal production cuts from the oil-producing nations.
    • Goldman Sachs expects the Brent prices to increase past $80 in the 3rd quarter of 2021 as demand continues to increase. JP Morgan forecasts crude oil prices to rise higher than $80 in the last three months of 2021.

    Bank of America’s analysts are bullish, expecting Brent prices to reach $100 by 2022.

    Brent Crude dips -0.42%, WTI Crude slips -0.76%

    Source: CNBC.

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