Crude Oil Prices Could See Summer Spike

June 3, 2021
The spike might be short for this summer, but a longer-term increase is expected in coming years.

June 3, 2021—Crude oil prices could see a price spike this summer to as much as $80 per barrel, reports CNBC.

A surge of drivers returning to U.S. roads, more goods transportation needs, and other factors are contributing to this prediction. Oil prices have already grown by 40 percent.

It may just be a temporary spike, though the path ahead is unclear in the short term. Over the next few years, however, analysts are expecting rising crude oil prices to continue.