Bank of America: Brent oil prices expected to hit $ 120 a barrel by 2022

On December 2, Bank of America said in its Commodity Outlook 2022 report that inflation is expected to support commodity prices for next year. Strong demand, low stocks and decarbonization measures will play a role in supporting the product market. Brent oil prices could reach $ 120 a barrel by the middle of next year, and US oil prices could fall below $ 4 / Mbtu. Bank of America wants lead, nickel, platinum and silver for each to play a role in the transition to green energy. Inflationary pressures have boosted commodity yields and the energy economy is expected to outperform steel and agriculture over the next year.