Brent Oil has the momentum to touch $100 – Rabobank

Brent has faced stiff resistance around the $94-95 mark, hovering at the low $90s since breaking out early in September. Strategists at Rabobank analyze Oil’s outlook.

More strength in Q1 2024 to stay above the $100 mark

There is still significant upside price risk due to the underlying disparity between demand and supply. 

Brent has the momentum to touch $100, however, we see more strength in Q1 2024 to stay above the $100 mark.

See – Brent Oil: Break above $100 will not be sustainable – ING