Posted 4/3/2024, 1:07:52 PM
Oil Prices top $85 on OPEC Cuts and Ukraine War Risks, $100 Crude Seen as Possible
- Oil prices have risen above $85 per barrel, the highest since October 2023
- OPEC+ supply cuts and possibility of Fed rate cuts could lead to more upside
- Analyst says triple-digit oil prices "are not that far" given deficits and geopolitical tensions
- Escalating Ukraine-Russia war poses risk of disrupting Russian oil production
- Middle East spare capacity could help keep prices from going too high
