Brent
Investing.com — Brent crude oil prices could be bolstered in the near-term by demand possibly outstripping supply in the fourth quarter, according to analysts at Citi. A reported decision by the Organization of the Petroleum Exporting Countries and its allies to delay the beginning of a tapering in voluntary output cuts,…
(Reuters) – Morgan Stanley on Monday cut its forecasts for coming quarters and said the global oil market is facing a period of demand weakness similar to those seen during recessions. Brent crude futures settled at their lowest levels since December 2021 on Friday at $71.06. Brent was trading around…
Investing.com — Goldman Sachs in a note dated Monday adjusted its forecast for prices, lowering the expected trading range to $70-$85 per barrel. This revision marks a $5 per barrel reduction from previous estimates and is driven by several key factors, including unexpectedly high OECD inventories, slower-than-anticipated demand growth from…
(This Aug. 2 story has been corrected to indicate it was Brent that settled at a 7-month low in the headline and paragraph 1) By Georgina McCartney HOUSTON (Reuters) – Oil prices fell on Friday, with Brent settling at its lowest since January, after data showed the U.S. economy added…
By Alex Lawler LONDON (Reuters) – Trading houses Trafigura and Gunvor bought nine cargoes of crude that underpin the international Brent benchmark in the last week and bid for more, helping to drive the steepest gains since a change in the way it was assessed in 2023. The moves on…
