JP Morgan Explains Why Oil Prices Could Hit $100 This Year

WTI crude oil prices could surge to $100 per barrel in the coming year as there are diminished incentives for producers to boost production, according to a note from JP Morgan cited by Forexlive. The investment bank estimates that the equilibrium price of WTI oil, the U.S. benchmark, is currently at around $70 per barrel.   A $60 per barrel price for WTI Crude is too low to incentivize production, and this could potentially lead to a spike to $100 per barrel, according to the note carried by Forexlive. Early on Thursday, WTI Crude…