Crude oil will climb above $70; energy security could reappear on the radar

Crude oil prices could shift higher again once the market shakes off the latest bout of coronavirus jitters

Energy security concerns are bubbling beneath the surface. While OPEC+ can provide the necessary crude as demand recovers in the near term, there may be a lack of firepower from the rest of the oil producing fraternity further down the line. The recent rise in oil prices could be just what the world needs.

The global physical oil benchmark Dated Brent is hovering in the low $60s/barrel, having risen more than 50 per cent since demand-led optimism over the Covid-19 vaccine rollout back in November. And oil prices could shift higher again once the market shakes off the latest bout of