Bank of America: Sell Oil Above $100

AI Summary

Bank of America is advising investors to sell oil if crude prices climb above $100 per barrel, citing historical patterns where high oil prices trigger government and central bank interventions to cool the economy. Crude is already up nearly 70% year-to-date, significantly outperforming broader commodities, gold, the S&P 500, and bitcoin. The bank views oil as one of the biggest market movers of the year.

Bank of America is warning investors not to chase oil prices higher if crude climbs above $100 per barrel, arguing that prices at those levels tend to trigger government and central bank responses aimed at cooling the economy. The bank said oil has already been one of the biggest market movers this year. Crude prices are up nearly 70% year-to-date, far outpacing broader commodities, which are up about 41%, and gold, which has gained roughly 17%. Over the same period, the S&P 500 has fallen about 2.5%, while bitcoin has dropped around 20%. According…