‘Oil Prices North of $200’ per Barrel — Investor Expects Oil to ‘Crush’ Every Investment in 2023

Amid the dreary global economy, a number of market strategists and analysts believe oil will be the number one investment in 2023. While a barrel of oil is coasting along at prices between $80.12 ja $85 ühiku kohta, Goldman Sachs analysts think oil will reach $110 per barrel for Brent oil, and strategists from Morgan Stanley also believe oil will reach $110 a barrel by mid-2023. The founder of Praetorian Capital recently warned a barrel of oil could jump a lot higher next year.

Market Strategists Expect Oil Prices to Jump Considerably in 2023, Some Warn That $100-a-Barrel Oil Should Be Expected Next Year, Others Say a Barrel of Crude Could Surpass $200

Reports show that Wall Street is bullish about oil in comparison to equities, krüptovaluutad, ja precious metals. Oil jumped a great deal in value this year amid the rising inflation and the start of the Ukraine-Russia war. märtsil 8, 2022, the same day gold reached its all-time price high, a barrel of Brent traded for $126 a barrel. Jälgib 2022 high, oil slipped to $96 per barrel eight days later on March 16. It then crept back up again throughout April and May, and by June 8, a barrel of Brent was around $122 ühiku kohta.

Since that day, a barrel of crude Brent oil dropped 31% USA vastu. dollarit, dropping to the $85 barrel range on Dec. 27, 2022. Despite the drop, numerous investors and Wall Street types believe oil will be the best investment next year. The hedge fund manager and founder of Praetorian Capital, Harris Kupperman, is one market strategist that thinks oil will “crush” all other investments in 2023. Kupperman’s portfolio opinion, shared on Quoth the Raven’s substack, not only says oil will surpass all other investments, but Kupperman expects a barrel to jump above $200.

“My strongest held view is that 2023 is the year of oil crushing all other CUSIPs,” the Praetorian Capital founder wrote. “Once again, I think it’s important to repeat that if you haven’t stress-tested your portfolio for oil prices north of $200, you’re going to suffer dearly when that should come to pass.”

Kupperman is not the only investor expecting bullish oil prices next year. The investment publication The Motley Fool highlights that Jeff Currie, the Goldman Sachs global head of commodities, believes Brent will reach $110 next year. In a note to clients, Morgan Stanley shared the same view about oil prices rising in 2023. “We remain constructive on oil prices driven by recovering demand (Hiina taasavamine, aviation recovering) amid constrained supply due to low levels of investment, risks to Russia supply, the end of SPR releases, ja [a] slowdown of U.S. shale,” Morgan Stanley’s commodity analysts noted.

Jay Hatfield, the CEO at Infrastructure Capital Advisors, üksikasjalik detsembril. 23 that his firm expects $80-$100 a barrel “while the Ukrainian war continues.” Hatfield also said that he expects China’s oil demand to “recover as it emerges from zero-Covid lockdown policy.” A aruanne published by Enverus Intelligence Research (EIR) warns $100 a barrel oil prices will return in 2023. EIR’s report cites the increase will come to fruition due to the sanctions of Russian oil and the Organization of the Petroleum Exporting Countries’ (OPEC) supply management.

What do you think about the oil price predictions for 2023? Andke meile allolevas kommentaaride jaotises teada, mida te selle teema kohta arvate.

Jamie Redman

Jamie Redman on Bitcoin-Tidings.com Newsi uudistejuht ja Floridas elav finantstehnoloogia ajakirjanik.. Redman on sellest ajast alates olnud aktiivne krüptoraha kogukonna liige 2011. Tal on kirg Bitcoini vastu, avatud lähtekoodiga kood, ja detsentraliseeritud rakendused. Alates septembrist 2015, Redman on kirjutanud rohkem kui 6,000 artiklid saidile Bitcoin-Tidings.com Uudised täna esile kerkivate häirivate protokollide kohta.

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