Global oil benchmark Brent crude could rise past $150 a barrel if there is a sharp contraction in Russian oil exports, Bank of America (BofA) Global Research said on Friday. Oil prices surged after Russian’s Ukraine invasion, which Moscow calls a “special operation”, and are currently just below the $120 a barrel level. “With our $120/bbl Brent target now in sight, we believe that a sharp contraction in Russian oil exports could …. push Brent well past $150/bbl,” the bank said in a research note. The European Commission has proposed an oil embargo on Russia, though talks have failed to produce a breakthrough so far, with Hungary vetoing the move. read more BofA forecasts Brent prices averaging $104.48/bbl in […]