Energy

JPMorgan says two factors could drive up oil prices by another $5 to $10 per barrel

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SINGAPORE — JPMorgan says crude prices could see further upside ahead as oil continues to see strong gains so far this year.

It comes against the backdrop of an improving global outlook as major economies press ahead with their ongoing coronavirus vaccination campaigns.

“I think there’s room for oil prices to move a little bit higher in this environment but, you know, not thinking about a price of $80 or $90 a barrel. Maybe it goes up by $5 or $10 more from here,” Kerry Craig, global market strategist at JPMorgan Asset Management, told CNBC’s “Street Signs Asia” on Friday.

In the afternoon of Asia trading hours on Friday, international benchmark Brent crude futures were at $62.91 per…



Source cnbc.com

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