Brent Oil should rise to $90 by year-end – Commerzbank
Source Fxstreet
The price of Brent Oil has recovered from its six-month low in mid-December and has hovered around $80 since the beginning of the year. Economists at Commerzbank analyze Brent’s outlook.
Oil price between demand concerns and supply risks
Negative factors such as the weak economies in China and Europe and supportive factors such as supply risks due to tensions in the Middle East are balancing each other out.
We expect the price of Brent Oil to remain stable at around $80 for the time being.
As the year progresses, the oil market should tighten as demand picks up and the Brent Oil price should rise to $90 by the end of 2024.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Deutsche Bank Slashes Gold Price Forecast by 22%: Wall Street Bulls Retreat, Fed Rate Hike Expectations Become Biggest Drag Wall Street investment banks are collectively cooling on their bullish sentiment toward gold. Following Goldman Sachs ( GS) sharply cutting its gold price targets last week, Deutsche Bank
Wall Street investment banks are collectively cooling on their bullish sentiment toward gold. Following Goldman Sachs ( GS) sharply cutting its gold price targets last week, Deutsche Bank
The USD/JPY pair holds steady near 161.55 during the early Asian session on Tuesday. Progress in US–Iran peace talks and intervention fears from the Japanese authorities might cap the upside for the pair.
Nvidia 2026 Shareholder Meeting Preview: Can Stock Price Hit New Highs? How Blackwell, Vera Production Ramps Will Determine Future Revenue?This Wednesday (June 24), NVIDIA (NVDA) will hold its 2026 annual meeting of stockholders online. The focus of this meeting will be the production ramp-up of Blackwell and the brand-new V
This Wednesday (June 24), NVIDIA (NVDA) will hold its 2026 annual meeting of stockholders online. The focus of this meeting will be the production ramp-up of Blackwell and the brand-new V
Morgan Stanley’s Latest Assessment: Three Variables for Gold’s Rise to $5,200 — Hawkish Fed, ETF Flows, and Middle East TurmoilMorgan Stanley ( MS )'s latest precious metals research report shows that while continuous gold purchases by global central banks have provided a solid floor of support, gold ( XAUUSD )'s
Morgan Stanley ( MS )'s latest precious metals research report shows that while continuous gold purchases by global central banks have provided a solid floor of support, gold ( XAUUSD )'s
The US-Iran peace talks took place on Sunday in Bürgenstock, Switzerland, with delegations from Iran, the United States, Qatar, and Pakistan participating.
Related Instrument
