Friday, April 24, 2026
UBS sees near-term Brent prices sliding despite modest annual forecast bump- oil and gas 360

UBS sees near-term Brent prices sliding despite modest annual forecast bump

(Investing) – Brent crude prices are expected to drop to the low-to-mid-$60 per barrel range in the near term as traders eye an expected uptick in OPEC+ production and a seasonal slowdown in fuel demand, according to analysts at UBS. In a note to clients, the brokerage predicted that oil markets will see a “larger surplus” after the key summer travel

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories increase by 3.8 million barrels

Weekly Crude Oil Storage as of June 27, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.8 million barrels from the previous week.  At 419 million barrels, U.S. crude oil inventories are 9% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,