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Oil prices could rise to $90 per barrel by Christmas and to $100 per barrel by 2019, according to Trafigura’s Co-Head of Oil Trading Ben Luckock.  

Trafigura is one of the world’s leading independent commodity trading and logistics houses.

A rally to $100 could prove costly for oil importing nations with already big current account deficits like India. At press time, brent  oil is trading at $79.35, up 1.42 percent on the day.