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Here comes $7 gas prices, warns oil strategist in dire outlook
"My guess is that you are going to see $5 a gallon at any triple-digit [oil prices] ... as soon as you get to $100. And you might get to $6.50 or $7. Forget about $150 a gallon, I don’t know where we will be bv then," Energy Word founder Dan Dicker mentioned on Yahoo Finance Live. Dicker mentioned oil costs might shoot greater to $150 a barrel, or in line to the "super spike" highs from 2007. Oil costs have been red-hot currently as geopolitical tensions rise between Russia and the remainder of the world. WTI crude oil has climbed 13% in the previous month to $94 a barrel. Russia produces 10 million barrels of oil a day, the equal of 10% of worldwide demand. Any lack of that oil on account of geopolitical points might trigger a tightly equipped market to grow to be tighter, pushing costs for the hydrocarbon up. The march up in oil has pushed gas costs additional greater from already elevated ranges. Posted by: Besoeker 2022-02-21 |
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