(Bloomberg) -- It’s “possible” that oil will hit $100 a barrel this winter, but $80 to $90 is the expected range, said Marco Dunand, the chief executive officer of commodities trader Mercuria Energy Group Ltd.

With surging energy costs contributing to inflation, as the global economy recovers from the pandemic, prices could still go higher, Dunand said at the BloombergNEF summit in London on Monday afternoon.

“It’s difficult to think the psychology of the market can be anything but bullish ahead of the winter,” Dunand said. “We have a bullish view on commodities and on energy.”

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