{"id":4349,"date":"2023-09-04T20:54:33","date_gmt":"2023-09-04T18:54:33","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=4349"},"modified":"2023-09-04T20:54:33","modified_gmt":"2023-09-04T18:54:33","slug":"oil-to-be-at-100-per-barrel-soon-experts-say","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=4349","title":{"rendered":"Oil to be at $100 per barrel soon, experts say"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"auto\">Trafigura Group, the major commodities trader, believes oil prices could jump as rising interest rates and a lack of investment squeeze the market.<\/p>\n<p>The general consensus is that prices will remain near current levels, but the market is &#8220;more fragile than it looks,&#8221; Ben Lacock, one of the heads of oil trading, said in an interview at APPEC (Asia\u2019s most prestigious Oil and Energy industry conference) in Singapore.<\/p>\n<p>The price of Brent crude already approached $90 a barrel after OPEC+ major countries cut supply and restrictions could continue further.<\/p>\n<p>Oil prices also retain upside potential thanks to booming air travel in China, according to Gary Ross, an oil consultant turned hedge fund manager at Black Gold Investors LLC.<\/p>\n<p>Domestic air travel in China is already back to 110% of pre-pandemic levels, and long-distance automobile travel is still dominated by gasoline-powered cars, he said in an interview.<\/p>\n<p>\u201cYou\u2019re gonna have a big increase in jet fuel demand probably of something like 500,000 barrels a day of jet alone in China,\u201d he said.<\/p>\n<p>Brent is likely to trade in a range of between $90 and $100 by the end of the year, Ross said. It stood just below $89 on Friday.<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Trafigura Group, the major commodities trader, believes oil prices could jump as rising interest rates and a lack of investment squeeze the market. The general consensus is that prices will remain near current levels, but the market is &#8220;more fragile than it looks,&#8221; Ben Lacock, one of the heads of oil trading, said in an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4350,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-4349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4349"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/4350"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}