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Keyword: gascrunch

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  • $80 oil is sending the market toward demand destruction, Morgan Stanley says

    10/01/2021 2:06:58 PM PDT · by cutty · 37 replies
    CNBC ^ | SEP 29 2021 | Natasha Turak
    With winter ahead and a gas crunch in Europe, the demand picture appears promising. But demand destruction could be imminent as prices climb higher, some experts are warning. Higher energy prices will also fuel even higher inflation, which poses a significant threat to demand. The current energy market picture is looking good for oil bulls. International benchmark Brent crude passed the long-anticipated threshold of $80 per barrel on Tuesday, though it’s since slipped back down to trade at $78.47 as of Wednesday at 10:30 a.m. in London. West Texas Intermediate was trading at $74.73 per barrel around the same time....