Oil prices were basically flat early on Wednesday, but $80 oil could be just around the corner, according to analyst Jodie Gunzberg, head of commodity and real asset indices at S&P Dow Jones Indices in a CNBC interview on Wednesday. While prices are holding just below highs from earlier this week after U.S. crude inventories surprisingly declined amid higher demand, Gunzberg sees a “real rebalancing” taking place in the oil market. The catalysts, Gunzberg explains, are improved OPEC compliance, strong demand growth in China—not to mention Hurricane Harvey, which disrupted US refineries. “When we look at the index data, we can see the price could move even as high as $80 to $85 (a barrel),” Gunzberg said, noting that this would not happen immediately. “…with their structural backwardation and shortages in the market, you just can’t replenish it overnight,” she said. Another catalyst for higher oil prices is the […]