Why Oil Could Rise Even Without Syria Tensions

Oil markets got a bit of a shocker Wednesday from a SocGen prediction that Brent could reach $125 a barrel in the coming days in connection with a U.S.-led retaliation against Syria. And if there’s a big regional spillover from this, SocGen says $150 Brent could be not far off.

But the investment bank isn’t the first to the game on a bullish oil call.

Yves Lamoureux, president of Lamoureux & Company, a market advisory firm based on behavioral economics, set a new price target of $140 for WTI crude about two weeks ago. Unlike SocGen, his call has little to do with the Syrian conflict.

Lamoureux backs up his oil call with these three reasons:
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