Oil may hit $100/barrel on weak dollar: Deutsche

NEW YORK (Reuters) – Oil prices may surge to $100 a barrel sometime in the next two quarters as the U.S. dollar weakens against the euro, Deutsche Bank (DBKGn.DE)(DB.N) energy economist Adam Sieminski said Friday.

“We think the dollar could weaken further to $1.60 against the euro and it implies pushing oil prices to that threatening triple-digit level,” Sieminski told Reuters.

A weaker dollar could mean “oil prices have even further to run,” but a rise to $100 a barrel may hurt an economic recovery, Deutsche Bank said in a research note.

Reuters