Key Points
Drone attacks in Russia, unrest in the Middle East and strong consumer demand have propelled oil prices to their highest level in months, setting the stage for what could be a summer surge in gas prices..
Undergirding prices: a relative lack of crude in global markets thanks to production cuts from OPEC and its allies..
By the summer, U.S. refiners will churn through about 700,000 more barrels of crude each day than they were last month, said Janiv Shah, an analyst at consulting firm Rystad Energyhelping meet seasonal gasoline demand but potentially driving crude prices even higher..
Bank of America analysts figure Brent prices could peak at $95 a barrel this summer, pointing to relatively low gasoline stockpiles in the U.S., Europe and Asia..
Higher prices for crude and other raw materials, including copper, to some extent reflect surprising strength in the world economy..
