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
U.S. September Nonfarm Payrolls: Two-Scenario Analysis, Will U.S. Stocks Diverge in Short-Term and Medium-to-Long-Term Trends?1. IntroductionAffected by the U.S. government shutdown, the September nonfarm payrolls report—originally scheduled for release in early October—will be officially published on 20 November. As a key "
1. IntroductionAffected by the U.S. government shutdown, the September nonfarm payrolls report—originally scheduled for release in early October—will be officially published on 20 November. As a key "
Ethereum's price plunged below $3,000 for the first time in four months, marking growing concerns of a potential end to the bull market.
Ethereum is trading near $3,150 and just 8% above a key $2,895 long-term holders’ cost basis, with on-chain flows, macro uncertainty and support around $3,000–$2,800 all shaping what comes next for ETH.
Gold price (XAU/USD) extends the decline to around $4,030 during the early Asian session on Tuesday. The precious metal edges lower as traders dialed back expectations of a US interest rate cut next month.
After slumping below $93,500, 2025 Bitcoin price gains have been completely wiped out. Investors are puzzled as to why its bull market, underpinned by political tailwinds, institutionaliz
