Brent hit $90 per barrel last week and plenty of banks and oil majors now believe we will see $100 oil this year. If oil does continue to climb, demand growth will likely slow and central banks may hike interest rates more aggressively. Predictions of oil demand destruction at $80 never materialized and gasoline consumption in the U.S. isn’t slowing down, but that may soon change. Brent hit $90 a barrel last week as geopolitical concerns and a tight market combined to drive oil prices higher. At the start of this week, Brent traded at over $91 and WTI reached $88 per barrel, while major investment banks and forecasters—and even oil majors—say that $100 oil is on the cards later this year. Lower-than-normal petroleum inventories, including in the United States, a slower-than-expected supply response to high prices, and declining global spare production capacity amid continuously recovering oil demand could […]