The price of oil may reach $150 a barrel this summer

The co-head of oil trading at global commodity trading firm Trafigura said the market could see crude rise to $150 a barrel this summer, and that the overall loss in Russian oil would become more apparent in April.
“I think you’re going to see $150 a barrel this summer,” Ben Lowcock said at the Financial Times Global Commodities Summit.

“You will know at the end of April the size of the total loss in Russian oil,” he said, adding that due to weak demand, the Russians had to cancel shipments of crude and store some shipments that they could not sell.