It will exceed $ 150 oil estimated by one of the largest traders in the world

The alarm was sounded by Jeremy Wier, CEO of one of Trafigura’s largest commodity traders in the world, warning of a “parabolic movement” of oil prices during the year, with historical records that will push global economic growth.

In particular, speaking at a conference of the Financial Times, J. “We are in a critical situation … I think we have a problem for the next six months … when we get to these parabolic states the markets can jump a lot higher,” Wier said.

Parabolic market movement is generally defined as a situation in which an ever-increasing price suddenly jumps to unprecedented levels.

According to CEO Trafigura, it is highly likely that oil prices will reach $ 150 a barrel or even higher in the coming months as Russia seeks to redirect its exports beyond Europe.

It is recalled that the highest price recorded by the global benchmark, the European crude Brent, was $ 147 a barrel shortly before the global financial crisis of 2008.

Jeremy Wyar’s views echo the views recently expressed by both Goldman Sachs and JP Morgan CEO Jamie Damon.

In particular, Goldman revised upwards its price estimates this week, saying that they should first move to $ 135 a barrel on average over the next 12 months before global stocks normalize.

According to the bank’s analysts, the price of Brent will reach $ 140 a barrel in the third quarter of the year, $ 15 more than their previous forecast.

Similarly, JP Morgan’s strongman Jamie Damon spoke last week of an impending “economic hurricane,” estimating that oil prices could reach $ 150 or even $ 175 a year.

For his part, the CEO of Trafigura pointed out at the FT conference that “if we see very high prices in energy for some time, we will see a collapse and demand eventually”.

“It will be problematic to maintain these levels and to continue global growth,” he added.