ANALYSTS CUT OIL PRICE FORECASTS Major banks are lowering oil price forecasts as tensions ease and shipping through the Strait of Hormuz no…
ANALYSTS CUT OIL PRICE FORECASTS
Major banks are lowering oil price forecasts as tensions ease and shipping through the Strait of Hormuz normalizes. JPMorgan now expects Brent crude to average $80 a barrel in Q4 and $64 next year, citing weaker demand. Capital Economics and Wood Mackenzie also turned more cautious, while Goldman Sachs remains the most bullish, forecasting $85 Brent this year.
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