Brent Crude Oil to reach $88 by year-end – Deutsche Bank
Source Fxstreet
Strategists at Deutsche Bank forecast Brent at $88/bbl by the end of 2024.
Continued OPEC+ discipline in a nearly balanced market for H1, and seasonal strength in H2
2024 Brent forecast at $88/bbl.
We look for continued OPEC+ discipline in a nearly balanced market for H1, and seasonal strength in H2.
With January OPEC compliance with voluntary curbs at ~50%, we see little upside for our H1 Brent $83/bbl.
The first possibility of relaxation of OPEC+ supply cuts will be in Q3 against a backdrop of tighter balances and higher prices, underpinned by seasonal strength.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading sideways within consolidation ranges on Friday, signaling a lack of directional bias in the broader crypto market.
West Texas Intermediate (WTI) US Crude Oil prices reverse a modest Asian session dip to sub-$66.00 levels and climb back closer to the highest level since August 4, touched earlier this Friday.
Gold price (XAU/USD) holds positive ground near $5,000 during the early Asian session on Friday. The precious metal edges higher as escalating tensions between the United States (US) and Iran boost safe-haven demand.
West Texas Intermediate (WTI) Oil price gains ground and is trading around $65.70 per barrel during the European hours on Thursday.
Silver Price Forecast: XAG/USD rises to near $78.00 on safe-haven demandSilver price (XAG/USD) extends its gains for the second successive session, trading around $78.00 per troy ounce during the Asian hours on Thursday. The precious metal Silver receives support from rising safe-haven demand amid persistent tensions between the United States (US) and Iran.
Silver price (XAG/USD) extends its gains for the second successive session, trading around $78.00 per troy ounce during the Asian hours on Thursday. The precious metal Silver receives support from rising safe-haven demand amid persistent tensions between the United States (US) and Iran.
Related Instrument
