Markets

Bank of America Predicts Oil Could Hit $100 per Barrel in Case of Severe Winter Cold Snap

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Bank of America Predicts Oil Could Hit $100 per Barrel in Case of Severe Winter Cold Snap
A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, on Jun. 9, 2016. Richard Carson/Reuters
Tom Ozimek
Tom Ozimek
Reporter
|Updated:

Oil prices could top $100 per barrel in the event of a significantly colder-than-usual winter, Bank of America analysts said in a note cited by Reuters.

Global crude oil demand could surge by up to 2 million barrels per day (bpd) in the event of a major winter cold snap, which could send oil prices past the $100 per barrel mark, Bank of America analysts wrote in the Sept. 10 note, according to Reuters.
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Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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