/biz/ - Business & Finance

So es em gee, just how high are oil prices about to spike? $140? $150? $160? $180? $200? $250? tree fiddy?!
>Trafigura CEO Warns Of "Parabolic" Blowoff Top In Crude As Worst Of Energy Crisis Just Ahead
>One of the world's largest independent energy merchants - Trafigura, which trades hundreds of billions of dollars in commodities every year, warned crude oil prices could catapult to $150 or more, in what could be an epic blowoff top.
>Jeremy Weir, chief executive of the commodity trader, told the FT Global Boardroom conference on Tuesday that energy markets are in a "critical situation... I really think we have a problem for the next six months . . . once it gets to these parabolic states, markets can move and they can spike quite a lot."
>Weir's warning about higher prices comes as other top executives and analysts at major banks shift their crude oil price targets higher than the all-time peak of $147, last observed right before the 2008 financial crisis.
>Last week, JPMorgan CEO Jamie Dimon warned that a "hurricane" might hit the economy with the Federal Reserve aggressively tightening interest. He said disruptions in oil markets could send oil prices to $150 or even $175 per barrel.
>This week, Goldman Sachs' Damien Courvalin told clients they raised their peak summer oil price target from $125 to $140 while also hiking its oil price targets for the rest of 2022 and 2022 by $10 higher than before.
>So what the head of Trafigura is warning about when he says the oil market could reach a "parabolic state" is the likelihood of a blowoff top. The only question: How high are oil prices about to spike?
https://www.zerohedge.com/commodities/trafigura-ceo-warns-epic-blowoff-top-crude-worst-energy-crisis-just-ahead