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M Stanley Keeps Brent Oil Forecast at USD100-110 for 2Q, 3Q
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Morgan Stanley maintained its Brent crude oil price forecast, estimating prices of USD110 per barrel in the second quarter and USD100 per barrel in the third quarter, before declining to USD80 per barrel next year. The bank said that even if the Strait of Hormuz reopens, it expects the oil supply chain will still take several months to return to normal. Under its base case, export volumes passing through the Strait of Hormuz will remain at low levels this month, recover about 70% of lost volumes from May to July, and return to stable levels by October. Market analysis forecast the global crude oil market to shift into a supply deficit this year, in contrast to pre-conflict expectations of ample supply before the US and Israel's military actions against Iran. Auto-translated by AI AASTOCKS Financial News |
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