Reported 3 months ago
Oil prices are projected to rise as geopolitical tensions in the Middle East escalate, particularly after Iran's missile attack on Israel. Bill Baruch, President of Blue Line Futures, notes that the oil market has seen significant bearish positioning, which he believes could lead to a rally. He anticipates that oil could hit $80 per barrel by the end of 2024, driven by low inventory levels, Chinese economic stimulus, and current geopolitical dynamics.
Source: YAHOO