Brent may hit USD 120-125 as supply tightens; demand destruction possible at current levels: Sparta Oil analyst
Dubai, Sept. 15 -- Brent crude may climb to USD 120-125 a barrel if Middle East supply disruptions persist, while prolonged high prices could trigger demand destruction even at current levels, Abhishek Kumar, Senior Oil Analyst at Sparta Commodities, told ANI.
"The next target would be $120, $125 if this continues," Kumar said, pointing to supply tightness following the attack on the Yanbu or East-West pipeline, which he said takes out close to 4 per cent of global supply.
He said the loss of supply through the East-West pipeline, which helps transport Saudi crude while bypassing the Strait of Hormuz, could keep prices elevated. "It can go much higher from here," Kumar said, while cautioning that it was difficult to predict the exact pr...
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