Oil could hit $100 amid supply shocks

Oil prices have surged in recent days, threatening to push Brent Crude, the global oil benchmark, to $100 a barrel for the first time in almost two years

SUPPLY SHOCKS TRIGGER OIL PRICE RISE
(Brent Crude Futures)


Rise due to several factors, including: 
Mexico cutting exports by 35% 
Sanctions against Russian oil
Houthi attacks on oil tankers
OPEC cutting production             


Dec 31, 2021: $79.20
Mar 8, 2022: $127.98
Aug 29, 2022: $105.09
Apr 8, 2024: $90.71

20 months

$130 120 110 100 90 80 70 60 

2022 2023 2024

            
Sources: Bloomberg, Yahoo! Finance
Data as at 1330GMT
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