JPMorgan has projected that Brent crude oil prices could surge to $90 a barrel in April, reach the mid-$90 range in May, and approach nearly $100 by September due to Russia's decision to cut oil production. This forecast aligns with concerns over rising energy costs ahead of the U.S. election, with Russia's actions described as 'surprising' by some analysts. The potential price increase is attributed to the lack of countermeasures against the production cut. Meanwhile, energy stocks, particularly those represented by $XLE, have seen an 11% increase in 2024, marking the strongest performance among sectors in March. This situation has prompted discussions on the need for the West to intensify sanctions on Russia's oil trade and increase oil output from Saudi and the U.S. to counteract the Kremlin's revenue from oil and gas profits, which are believed to fuel its imperialism.
Long oil. > $100 by June. #oott $xle $uso https://t.co/QzMfPsQ5bZ
Crude Oil could soar to $100/barrel before the U.S. Presidential Election due to Russia's production cuts warns JP Morgan https://t.co/Gj7ReHIm3W
From @WSJopinion: Billions of dollars in oil and gas profits fuel the Kremlin’s imperialism. The West must ratchet up sanctions to make Russia’s oil trade less profitable, while also increasing Saudi and U.S. oil output, writes @AndriyYermak. https://t.co/YnOSCIYPgH
JPM: Russia’s decision to cut oil production could push Brent oil price to $100 Yellen/Biden: Ukraine, stop fighting and bombing refineries, we need gasoline prices lower in an election year Article from the FT: According to the Financial Times, the Biden administration, in…
JPMorgan Warns Putin Can Push Oil To $100 By September To "Pressure Biden Ahead Of Elections" https://t.co/QWfWZcx5dl
JP Morgan: without counter-measures, oil headed to $100
JPMorgan says oil could rise to nearly $100 a barrel on Russia's 'surprising' actions ahead of U.S. election https://t.co/1AR1V7kULy
Energy stocks, represented by $XLE, are having a moment. Following the strongest performance amongst the other 10 sectors in March, the energy basket is currently up 11% in 2024. https://t.co/y4Sz6XNnrZ
JPMorgan $JPM believes that without countermeasures, Russia's decision to cut oil production could push Brent $BNO crude oil prices up to $90 a barrel in April, reach the mid-$90 range in May, and near $100 in September. $USO $UCO #OOTT
JPMorgan believes that without countermeasures, Russia's decision to cut oil production could push Brent crude oil prices up to $90 a barrel in April, reach the mid-$90 range in May, and near $100 in September. #OOTT
🔴 JPMORGAN: OIL MAY HIT $100 FOLLOWING RUSSIAN OUTPUT CUTS.
Me and the energy sector. $USO $XLE https://t.co/dxWn5OsQXJ
Long oil. #oott #natgas $xle $uso https://t.co/ncwXxKz6if