Oil prices have been skyrocketing on greater-than-expected demand amid tight supply. On Wednesday, Dated Brent reached $100.80 per barrel for the first time since 2014. Because dated Brent reflects more immediate prices than the futures markets, its rise indicates how much traders are willing to pay to secure actual barrels of oil for delivery to refineries.
Furthermore, Brent Crude surpassing $100 per barrel now seems imminent, according to energy analysts, with forecasters expecting the commodity to rise to $125 per barrel or even higher.
