Oil Prices Surge Toward $100 a Barrel as Demand Outpaces Supply
• Increased financial market participation and bullish bets are driving oil prices higher.
• Strong demand, particularly expected in the second half of the year, is underpinning the price surge.
• OPEC+ production cuts and limited spare capacity contribute to the tight supply.
• Oil may have room to run up to $100 a barrel, especially if OPEC+ sticks to its guns and rolls over the cuts further into the second half of the year.
• $100 oil could also be in sight, experts say. The market is currently "on firm fundamental footing."