January 13, 2022 04:36 am | Updated 04:36 am IST - LONDON
Petrol drips from a gasoline pump at a petrol station in London in this January 19, 2011, file photo. Brent crude oil prices hit $108 a barrel for the first time since 2008 on Monday on fears that spiraling violence in Libya could lead to wider supply disruptions from the OPEC member. REUTERS/Bernadett Szabo (BRITAIN - Tags: BUSINESS ENVIRONMENT POLITICS ENERGY)
Oil prices will power further ahead this year, said analysts.
“Assuming China doesn’t suffer a sharp slowdown, Omicron actually becomes Omi-gone, and with OPEC+’s ability to raise production limited, I see no reason why Brent crude cannot move towards $100 in Q1,” said Jeffrey Halley, senior market analyst at OANDA.
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