Free Republic

Some of the world’s biggest oil traders expect oil prices to exceed $200 per barrel by the end of the year, the Financial Times reported, citing opinions shared at its Commodity Global Summit this week. “Wakey, wakey. We are not going back to normal business in a few months,” said Pierre Andurand, who has been super bullish on oil for a while. “I think we’re losing the Russian supply on the European side forever.”