Bank of America Corporation said crude oil prices could reach triple digits by September or even before 2022.

Crude oil rose for the sixth trading day in a row. Today, the price of WTI crude oil once exceeded 76 US dollars per barrel, and Brent crude oil futures topped 80 US dollars per barrel.

Francisco Blanch, Bank of America Corporation's global head of commodities and derivatives research, expects Brent crude to hit $100 in September next year, compared with $95 for WTI.

Blanch said in an interview with the media that when air travel fully resumes next summer, oil demand will reach its highest level in 2019, but if it is particularly cold this winter, it could reach that level this year. At the same time, the supply side is dealing with nearly 18 months of "underinvestment".

"in the context of zero emissions, we don't want to use coal, we want to use less and less natural gas, we want to stay away from oil, so these policies will eventually lead to more and more underinvestment, and we can't solve all the problems at once."

He points out that every 1 million barrels of change in supply or demand is equivalent to a change in crude oil prices of about $20.

Jeff Currie, global head of commodities research at Goldman Sachs Group, made a similar argument about "underinvestment", calling it "vengeance of the old economy" and said a decade-long commodities supercycle could be just around the corner.

DataTrek Research had previously said rising commodity prices were unlikely to derail the global economic recovery.

Since 2011, on the WTI and US gasoline price charts, "although the oil price is $100per barrel and the gasoline price is $3.50, the US economy has grown in the middle of the time series (2000-2014)," DataTrek said in a report.

"there is no doubt that the surge in commodity prices in mid-2008 (oil prices rose to $120 a barrel) must have contributed to the subsequent recession, but we are far from close to that level."

Morgan Stanley (Morgan Stanley) previously pointed out that oil is one of the few asset classes where it is expected to outperform the overall market.