On Tuesday, U.S. oil benchmark West Texas Intermediate crude futures advanced 1.6%, or $1.18, to $76.34 per barrel. At one point, WTI crude hit as high as $76.98, which was the highest price since November 2014.
International benchmark Brent crude rose 0.2%, or 15 cents, to $77.31 per barrel — the highest since late 2018.
Oil prices could ‘very easily’ top $100 a barrel, says former U.S. energy secretary
Oil prices could “very easily” hit $100 a barrel in the aftermath of the failed OPEC+ talks, former U.S. Energy Secretary Dan Brouillette told CNBC on Tuesday.
“You could very easily see oil hitting $100 a barrel — potentially even higher,” he told CNBC’s Hadley Gamble.
On the flip side, it’s “equally possible” that prices could collapse too.
Reference: CNBC
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