Brent Crude Could Hit $150 as Supply Squeeze Looms, Say Energy CEOs

Brent crude oil is trading near $94, rebounding from a recent decline, as top energy executives warn of an impending supply squeeze that could push prices to $150 per barrel. According to BeInCrypto, ExxonMobil's Neil Chapman highlighted that global inventories are nearing critically low levels, with a potential spike in prices. Chevron CEO Mike Wirth echoed these concerns, noting that crude and product inventories are depleting, with some Asian markets already experiencing rationing. The market's bullish sentiment is reflected in the declining put-call ratio, indicating a shift away from bearish bets.