- Brent oil could soar to $150 if a supply shock materializes from Russia-Ukraine tensions, JPMorgan said Friday.
- A surge to $150 a barrel would be a 100% jump from the $75 average price in Q4 2021.
- Russia for weeks has been amassing thousands of troops at Ukraine’s border.
International oil prices could soar to $150 a barrel during the first quarter of 2022 if an ongoing conflict between Russia and Ukraine leads to a supply shock, economists at JPMorgan said Friday.
The projection arrived as Brent oil so far this year has leapt about 12%, trading at near seven-year highs as strong demand for the commodity is outstripping global supply. Brent during Friday’s session fetched close to $88 a barrel.