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
Tesla Stock Hits Record High as Robotaxi Tests Ignite Market. Why Is Goldman Sachs Pouring Cold Water on Tesla?TradingKey - For Tesla investors, a challenging start to the year has now taken a significant turn.After a 36% stock plunge in the first quarter—its worst performance since 2022—Tesla shares surged ov
TradingKey - For Tesla investors, a challenging start to the year has now taken a significant turn.After a 36% stock plunge in the first quarter—its worst performance since 2022—Tesla shares surged ov
Pound Sterling slumps as UK inflation falls by more than expected to 3.2%The Pound Sterling (GBP) faces intense selling pressure against its major currency peers on Wednesday and slides over 0.5% to near 1.3340 against the US Dollar (USD), following the release of the United Kingdom (UK) Consumer Price Index (CPI) data for November.
The Pound Sterling (GBP) faces intense selling pressure against its major currency peers on Wednesday and slides over 0.5% to near 1.3340 against the US Dollar (USD), following the release of the United Kingdom (UK) Consumer Price Index (CPI) data for November.
XRP’s Price Action Flashes a Warning Even as ETF Flows Stay PositiveXRP’s structure remains weak despite 18 straight positive closes in spot XRP ETFs, with analysts warning that $1.98 and other nearby resistance zones could cap rebounds unless the YO region is reclaimed, while deeper downside scenarios keep $1.53 on watch as a potential (not guaranteed) accumulation area.
XRP’s structure remains weak despite 18 straight positive closes in spot XRP ETFs, with analysts warning that $1.98 and other nearby resistance zones could cap rebounds unless the YO region is reclaimed, while deeper downside scenarios keep $1.53 on watch as a potential (not guaranteed) accumulation area.
In 2025, gold outpaced Bitcoin, slashing the BTC-to-gold ratio by half from 40 to 20 ounces per BTC.
Historical data show a rising trend of US and European stocks in December. If the momentum is strong, fund managers may rush in with a buying frenzy.
