It was the talk of the town last year. Traders bet on oil hitting $200 by March this year. Hedge fund managers warned it could even reach $250 before 2022 was over. None of that happened, and in hindsight, it’s easy to see why: global oil markets have time and again proved they are a lot more resilient than traders give them credit for. But is oil at $200 still a possibility? It always is, under certain scenarios.
