Three weeks ago, when Brent Crude prices hit $80 a barrel on fears of an imminent supply crunch with the Iran sanctions, one of the world’s top oil traders—Trafigura—was one of the first to start talking about a return of $100 oil. Three weeks later, Brent Crude is again trading at nearly $80 as of early Thursday, having dropped from the four-year highs of $86 hit two weeks ago. Oil prices started to slide from those four-year highs after the market began questioning the health of global economic growth and oil demand growth and after last week’s major equity market sell-off spread to commodities. Yet, Trafigura continues to be bullish on oil prices for this year and next. The risk is more to the upside, top executives at Trafigura said at the Argus Global Crude Conference in Geneva on Wednesday. Strong oil demand growth this year, slim spare capacity […]