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Crude may hit $75/bbl in June, says XM Australia CEO

Updated : June 11, 2021 20:40:53 IST

Peter McGuire, CEO of XM Australia, on Friday, traders are enjoying the bullish time and crude may hit $75 per bbl sometime in June.

Speaking further about crude, in an interview with CNBC-TV18, he said, “It’s certainly a party and the party is all about traders enjoying the bullish times and has got more momentum with $75 per bbl handle, sometime is very achievable.”

“Does it hit $80/bbl --- I am not going to go there and speculate but it seems to be inflation is running at 5 percent, it’s on a tear, equities are stronger and let’s see what happens this week at G7 (47th G7 summit). If inflation is going to be the major concern on the taper talks and any surprises, but it might hit USD 80/bbl sometime over this summer period,” said McGuire.

For the entire interview, watch the video
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