Oil could surge above $100 in the event of a cold winter – and spark inflation that drives the next macro crisis, BofA says

MarketsInsider/Isabelle Lee

Repost from 10-6-2021

photograph of oil traders in Houston offices

USAGOLD note: Bank of America’s oil price forecast reads like something out of the 1970s when tight oil supplies pushed the globe into a stagflationary mire. Supply pressures, says the bank, could “lead to a second round of inflationary pressures around the world. Put differently, we may just be one storm away from the next macro hurricane.” Oil Price.com reported recently that some options traders are betting oil could go to $200 per barrel.

 

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