Brent oil trading near $122, JP Morgan expects higher prices
BonTradeBrent oil futures open Wednesday’s trading session around $122 a barrel while the latest oil price forecast from JP Morgan predicts that Brent oil futures could trade up to $130 a barrel in the next few months.
Latest Brent Oil Price
In London, Brent crude oil futures for May 2011 delivery was trading at $121.86 a barrel, 05.30 GMT this morning on the ICE Futures Exchange.
JP Morgan Oil Price Forecast
“Currently, Brent crude is around $115 a barrel. We think Brent crude could reach $120 to $130 in the next couple of months. We are focusing a lot on China’s development plan in the energy sector.” said Jing Ulrich, JP Morgan’s managing director and chairman of global markets, China.
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Brent oil trading near $122, JP Morgan expects higher prices
