Oil up as growing chorus predicts return to US$100BloombergOil posted its sixth straight weekly gain, with prices trading near a seven-year high as crude makes a roaring start to the year. Brent crude for March delivery rose 0.77 percent to US$90.03 a barrel, gaining 2.43 percent from a week earlier. An oil pumpjack, left, operates while another stands idle in the Inglewood Oil Field in Los Angeles on Friday. Photo: AFPAs supply remains constrained, a chorus of Wall Street banks and oil executives are forecasting a return to US$100 oil. For now, crude prices have defied the pull of weaker risk sentiment elsewhere, with consumption on the brink of returning to levels seen before the COVID-19 pandemic.

Source: Taipei Times January 30, 2022 00:56 UTC