Oil’s Surge Making $100 Level a ‘Real Possibility’

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Oil’s Surge Making $100 Level a ‘Real Possibility’

Oil prices continue to rise mid-morning in NY, with WTI crude recently climbing 2.5% to a seven-year intraday high of $88.76 a barrel, while Brent crude climbs 1.9% to $91.04. “Today’s strong move suggests $100 oil is a real possibility as strengthening technical and fear factors increase,” says Spartan Capital’s Peter Cardillo. Both benchmarks are on course to close at their highest since 2014 and to post weekly gains for a sixth straight week.