Forget Iran, oil $50 by end of year: RBC’s Croft

Fears of slowing oil demand, a global crude glut and Middle East woes spooked the market at the beginning of the year, but now, a change of heart could guide oil to $50, according to an RBC Capital Markets strategist.

“[The] market’s psychology has changed,” Helima Croft, RBC Capital Market’s head of global commodities strategies, told CNBC’s “Power Lunch” on Monday. “Everyone is thinking about now the recovery to $50,” she said, adding that OPEC‘s freeze talk has influenced market sentiment.

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