Bank of America released a report that said Brent crude oil prices may hit $150/barrel. If oil exports from Russia drop dramatically
“Brent crude is currently approaching our target of $120. We believe the plunge in Russian oil exports will push the price of Brent above $150,” the report said.
In addition, the Bank of America also predicts that Brent crude prices average $104.48 a barrel this year and $100 a barrel next year.
Oil prices have risen since Russia’s military invasion of Ukraine on Feb. 24.
