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Oil rises, but Singapore industry watchers doubt prices will stay up

Brent crude's increase to US$86 a barrel on Wednesday sees US oil traders eyeing US$100 mark by next year

Tay Peck Gek

Published Fri, Oct 5, 2018 · 09:50 PM

Singapore

WHILE US oil traders are bullish that crude oil could surge to US$100 a barrel by next year, analysts and economists here are more measured about the commodity's price.

Brent crude, the international benchmark, rose above US$86 a barrel on Wednesday, and US West Texas Intermediate (WTI) crude hit US$76 a barrel - both four-year highs, fuelling bullishness among oil traders in the US who are forecasting that the commodity could reach US$100 a barrel.

But industry watchers here a…