Traders Are Betting On $100 Oil Following Texas Freeze

Amid all the issues ignited in the Texas turmoil, and as oil prices roar to post-COVID highs, analysts across the energy space appear to be outdoing each other with their bullish forecasts. Source: Bloomberg Brent Crude prices could hit $70 a barrel in the second quarter of 2021, while they are set to average $60 this year, Bank of America said this week, raising its average price outlook by $10 a barrel from its previous projection. Echoing Bank of America, Morgan Stanley also sees Brent touching the $70 mark this year, but a bit later - in the…