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
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
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.
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) 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.
Related Instrument
