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Bank of America believes oil could spike above $100 before this cycle plays out

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CNBC/Pipps Stevens/6-4-2021

USAGOLD note: Oil figures into the price of just everything one way or another and itnores borders. If BoA is correct, there will be considerably more to the comparison with the 1970s than simply talk. BoA, by the way, first made this prediction back in February and is sticking to it.

Brent Crude Oil
(one year)

line chart showing the strong gains in the price of oil over the past year

Chart courtesy of TradingEconomics.com

 

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