Source: International Business Times
Bank of America raised its oil price outlook as constrained shipments through key Middle Eastern waterways, refinery outages, and reduced exports from Russia and other major producers tighten markets. Mario Tama/Getty Images Bank of America is warning that Brent crude oil could surge above $150 a barrel if the conflict with Iran drags into next spring and disruptions to global energy supplies continue to drain already-thin inventories. According to a note reported by CNBC, the Wall Street bank raised its oil price outlook as constrained shipments through key Middle Eastern waterways, refinery outages and reduced exports from Russia and other major producers tighten both crude and refined-product markets.
