Deutsche Bank: Brent oil is going to hit $100 in the first quarter of 2023

Brent crude oil prices have resumed the level recorded at the beginning of the year. Economists at Deutsche Bank predict that the cost of fossil fuel may reach $100 per barrel in the first quarter of 2023. However, there could be a subsequent decline to $80.

Experts anticipate oil prices to start falling in the second quarter of 2023. This is because global inventories are likely to stay unchanged next year compared to the last months of 2022. Nevertheless, this indicator is going to be higher than the current average value.  

Energy supply disruptions will push Brent oil prices up to $100 a barrel as early as next year. This could be followed by a drop in fuel costs to $80. The decline is projected to take place in the last quarter of 2023.