Gotrade News - The surge in crude oil prices to $120 per barrel on Monday has raised eyebrows in the market. Bank of America analysts describe this phenomenon as 'peak panic,' where prices spiked sharply and then fell back below $90.
Key Takeaways:
- Oil prices may consolidate between $90 and $110 in the medium term.
- Supply news could trigger a price surge up to $150.
- Investors are advised to be cautious with the Energy sector and Exxon Mobil.
Analyst Paul Ciana forecasts that Brent crude prices might range between $90 and $110. This prediction is based on the price movement patterns observed after Russia’s invasion of Ukraine in early 2022.
Ciana also warns of potential oil price surges to $134-$150 in case of negative supply news. If prices fall below $81.40 again, it could signal a further downturn.
Additionally, the Energy sector and companies like Exxon Mobil are showing signs of fatigue in their upward trend. Ciana advises investors to hold off on making new purchases for now.
Despite the slowdown in this sector, potential price movements remain highly dependent on headlines and market behavior. Investors are reminded to stay alert and ready with strategic next steps.
Reference:
- Bloomberg, Pound Rises as Oil Pressures Ease. Accessed on March 11, 2026
- CNBC, 120 oil spike was peak panic marking a top says bank of america.html. Accessed on March 11, 2026
- Australia Financial Review, Just watching the Strait of Hormuz misses the bigger point: Lazard boss. Accessed on March 11, 2026
Featured Image: GPT Image 1.5
