• Oil is likely to jump another 10 percent this summer, energy expert Tom Kloza predicts

    9 Jul 2018 | Economic News


The Oil Price Information Service's Tom Kloza recently estimated that prices could surge another 10 percent this summer — a rally that could hit consumers at the gas pumps.

"We can get into the $80s for Brent again, and I think we could get to $80 for WTI," the firm's global head of energy analysis said on CNBC's "Futures Now."

Kloza's thoughts came last Thursday as he was giving "Futures Now" an exclusive look at research coming out this week that holds predictions for 2018's second half.

According to the note, the odds are 50/50 that the nationwide average for unleaded gasoline will return to $a gallon or higher before the end of summer. He cited a hurricane slamming into the Gulf Coast as a leading bullish catalyst rather than a conflict between the United States and Iran.


Reference: CNBC

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