Crude-oil prices could eclipse the $100 a barrel mark as global markets reel from supply shortages, says Mark Fisher, founder of MBF Clearing Corp., in an...
““There used to be the Greenspan put for the equity markets. I think there’s a Saudi put to the energy markets.””
Fisher’s interview with the business television network came on the same day that Russia said it was immediately placing a temporary ban on diesel and gasoline exports outside of a small group of former Soviet states. The Saudi production output cut comes on top of previously agreed oil production cuts by the Organization of the Petroleum Exporting Countries and its Russia-led allies through the end of 2024.
“There used to be the Greenspan put to the equity markets. I think there’s a Saudi puts in the energy markets, to some degree,” Fischer said Thursday, adding that the floor could be around $75 top $80 a barrel.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil price will not move past $100 on a sustained basis over the next 12 monthsThe price of Brent Crude has reached $95/bbl, the highest level since November 2022. Economists at UBS analyze Oil’s outlook. Strong fundamentals will
Read more »
Goldman raises international oil price forecast to $100 a barrelThe firm believes OPEC's supply cuts will sustain prices in a range between $80 and $105 in 2024.
Read more »
Best elliptical machine deals: From $100 to $1,100Right now you can get your cardio in with some savings, as these are the best elliptical machine deals available.
Read more »
Take the Plunge: This Bestselling Ice Bath Is on Sale for Under $100Ready to take the plunge? Here’s what you should know about cold-water therapy and ice baths.
Read more »
Pump prices hit 2023 high as a barrel of crude marches toward $100At a time of year drivers expect to see some gas price relief following the end of the summer vacation season, prices at the pumps across the U.S. just hit a high for the year and further increases may be in store.
Read more »