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Morgan Stanley Cuts Oil Forecasts as Hormuz Deal Revives Supply
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Morgan Stanley Cuts Oil Forecasts as Hormuz Deal Revives Supply Morgan Stanley made substantial cuts to its oil-price forecasts for the coming quarters as the interim deal between the US and Iran to reopen the Strait of Hormuz stands to revive regional output and boost supplies. Dated Brent — a benchmark for physical transactions — is expected to average $90 a barrel in the third quarter, down from $100 previously, and $80 in the final three months, a reduction of $15, analysts including...
Morgan Stanley Cuts Oil Forecasts as Hormuz Deal Revives Supply
Morgan Stanley made substantial cuts to its oil-price forecasts for the coming quarters as the interim deal between the US and Iran to reopen the Strait of Hormuz stands to revive regional output and boost supplies.
Dated Brent — a benchmark for physical transactions — is expected to average $90 a barrel in the third quarter, down from $100 previously, and $80 in the final three months, a reduction of $15, analysts including Martijn Rats said in a note dated June 15. The trajectory for a recovery of output from the Middle East has been brought forward by one to two weeks, they said.