Saturday, 25 April 2015 14:54

War, hedge funds and China: why oil will hit $100 a barrel

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Oil prices are heading higher and could soon return to $100 per barrel as war in the Middle East and speculators drive market.

It wouldn’t be the first time that oil experts have got it spectacularly wrong when predicting the price of crude.

Goldman Sachs went against the prevailing mood in 2008 when it famously predicted that crude would hit $200 per barrel within months. Instead, oil crashed to levels around $40 per barrel as the global financial crisis punctured world demand.

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