Could we see the return of $100 oil prices this year?

Up 75% since lows seen in June 2017

Industry commentators remain bullish about the outlook for oil, but warn if prices shoot too high, they could trigger a recession in the US.

Solid emerging market demand, tightening supply and rising geopolitical tensions have sent prices soaring over the past year, with Brent Crude shooting up over 75% from the year lows seen in June 2017 to break through $80 a barrel in mid May for the first time since November 2014. Since November 2016, the Organisation of the Petroleum Exporting Countries (OPEC), joined by non-OPEC nations led by Russia, has been on a mission to stabilise prices following its decision to flood the market in 2014. At an OPEC meeting in November last year, the cartel agreed with non-OPEC countries to ext...