Chevron CEO predicts crude will return to $100 a barrel as prices set fresh highs

Oil prices were pushing higher again on Tuesday, while Chevron CEO Mike Wirth said the commodity was headed in the direction of $100 a barrel.

Oil prices charted fresh highs on Tuesday, as traders weighed up supply constraints, while Chevron CEO Mike Wirth predicted prices will return to $100 a barrel.

Chevron CEO Wirth told Bloomberg TV in an interview on Monday that crude looks likely to reach $100 per barrel, a level it hasn’t seen in more than a year. “Supply is tightening, inventories are drawing. These things happen gradually and you can see it building, and so I think…the trends would suggest that we’re certainly on our way,” he said.

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