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Brent oil price forecast higher - UBS not expecting the recent slip lower to persist

From a UBS note, in summary. Analysts at the Gloabl Wealth management arm do not expect recent price falls to persist, in light of the oil market’s firming fundamentals: We expect global oil demand to hit a record high in August. Unlike in other commodities markets, we think global oil demand has never been healthier. Chinese demand has hit a record high this year, in spite of recent economic releases. Oil inventories are declining, tightening the market. While OECD commercial stocks had been ri... Read More

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Posted: Aug 17 2023, 22:17

Author Name: forexlive

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