Day: June 26, 2020

You’re Hot Then You’re Cold…

Just last week we reported that JP Morgan was predicting $100 Oil “in the observable future” and “could see the price of oil hit $190 a barrel by 2025”. Well, those predictions have been revised in the past week and now they predict “oil may never hit $100 again” as a result of the price war, the ongoing pandemic, decimated demand, and U.S. Shale resilience. Talk about being indecisive! In other more exciting news, two leading oil price reporting agencies launched a new U.S. crude benchmark to rival WTI, how cool!