(FE)
Just last week, as the Brent crude oil price hovered over $67 per barrel, the analysts pegged that it would touch $70 soon. But now we are talking about a whole new trajectory, in which the oil price is flirting with $70 per barrel and on its way to hit even $80 per barrel soon. Brent touched $69.29 in late Tuesday trading, the highest December 2014.
Citigroup Inc predicts that wildcards including war, Middle East tensions, Donald Trump and Kim Jong Un driving crude toward $80 a barrel. However, the most wide-ranging systemic risk to commodities this year could be President Trump disturbing the political world order, Bloomberg quoted Citigroup as saying.
