Oil traders have been closely watching events in the Red Sea, a center for global trade. Despite geopolitical tensions ratcheting up in recent months, oil prices (CL=F, BZ=F) are still trading in the $70s.
Andrew Lipow, President of Lipow Oil Associates, joins Yahoo Finance to discuss the current developments with oil prices and taking a look ahead at what could come next.
Lipow gives an estimation as to where oil prices could end up : "I think a year from now we'll be looking at $85 to $87 a barrel, but in between now and then we could see oil prices fall to below $67 a barrel based on Chinese demand and on the other hand, we could see them reach $93-$95 a barrel if there were to be a supply disruption in the middle east."
#OIL #stockmarket #youtube
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Andrew Lipow, President of Lipow Oil Associates, joins Yahoo Finance to discuss the current developments with oil prices and taking a look ahead at what could come next.
Lipow gives an estimation as to where oil prices could end up : "I think a year from now we'll be looking at $85 to $87 a barrel, but in between now and then we could see oil prices fall to below $67 a barrel based on Chinese demand and on the other hand, we could see them reach $93-$95 a barrel if there were to be a supply disruption in the middle east."
#OIL #stockmarket #youtube
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
