Mubasher: An expert is expecting oil prices to move as high as $80 to $85 per barrel, as reported by CNBC.
Jodie Gunzberg from S&P Dow Jones told CNBC Wednesday that this will not happen immediately, but with their structural backwardation and shortages in the market, it can happen.
"The fundamentals are changing and the market is rebalancing," Gunzberg added.
"I think Hurricane Harvey really gave (oil) a boost, it was a catalyst for some of the disruptions in the refineries," she noted, adding that "We are seeing real rebalancing in the oil market."
