Oil prices at $70 may be the top of the range in the price of oil that we’re going to see over the next few years, David Kelly, chief global strategist at JPMorgan Asset Management, told “Bloomberg Daybreak: Americas” on Monday. “Yes, we’ve got those geopolitical issues, but I don’t know if sanctions would be that effective, it has to be a global effect,” Kelly said. Based on the cuts in production and on growth in the U.S. shale industry, oil at $70 a barrel may be “as high as it gets”, according to the strategist. “That’s a price that I don’t think is hurting U.S. consumers too much,” Kelly said, adding that $70 oil is a price that’s actually helping the stock market and U.S. energy companies. At the beginning of this year, J.P. Morgan lifted its Brent oil price forecast to $70 a barrel for 2018. The […]