CALGARY — A growing number of forecasts are calling for the return of US$100 oil before the end of the year — a prospect that could put even more pressure on consumers and make it harder for central bankers to rein in inflation. North American benchmark crude West Texas Intermediate has surged 30 per cent since June 1 and is hovering this week around US$90 per barrel, its highest point since November of last year. Global benchmark Brent crude was trading higher than US$93 on Wednesday. In recent
CALGARY — A growing number of forecasts are calling for the return of US$100 oil before the end of the year — a prospect that could put even more pressure on consumers and make it harder for central bankers to rein in inflation.
Botterill said he's currently working on Deloitte's upcoming oil price forecast report and considering whether to revise his own earlier projections higher."I can list a lot more reasons why oil will move up right now than down." Fuel price tracking website GasBuddy.com says the average gasoline prices in Canada Wednesday was $1.67 per litre, nearly 15 cents higher than the 2022 average.
"The outlook is really bullish, for the foreseeable future," she said. "You're seeing a lot of activity, some M&A and consolidation. Companies are well-capitalized, and they're willing to put their capital at play."
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