The imbalance of supply and demand in oil markets is growing, and it could lead to higher oil prices. Prices have gone from strength to strength on both major benchmarks, with Brent Crude and WTI Crude both rising for a fourth consecutive day. Festering geopolitical tensions between Russia and Ukraine could also further boost prices and increase supply shortages, OANDA’s senior analyst Craig Erlam has told City A.M. that oil prices could reach $100 per barrel during the first quarter, following intense rallies over recent days. His bullish forecast follows upbeat commentary on prices published in his latest market update, where he argued tightening supplies amid rebounding demand meant high prices are here to stay. Erlam said: “This imbalance has led to surging prices which will further pressure households and businesses already fighting high inflation What’s more, not only does the rally not appear to be losing steam, it […]