(Investing) – Fresh unexpected US sanctions on Russian energy may have helped to support oil prices in recent days, but fundamentals for crude are “still weak” and the impact of President-elect Donald Trump’s tariff plans looms large, according to analysts at Bank of America. Triggered by new US sanctions on Russian oil exports and worries over supply disruptions, oil prices recently
Reuters Bank of America Global Research said it could bring forward its $100 per barrel oil price target to the next six months from mid-2022 if the winter is colder than usual, potentially driving a surge in demand and widening a supply deficit. A much colder than normal winter could lead global oil demand to surge by 1 to 2
Reuters BofA Global Research raised its Brent crude price forecasts for this year and next, saying that tighter oil supply and demand balances in 2022 could push oil briefly to $100 per barrel. “We believe that the robust global oil demand recovery will outpace supply growth over the next 18 months, further draining inventories and setting the stage for higher
Reuters Bank of America (BofA) Global Research lifted its forecast for Brent crude oil prices for this year citing tighter supplies due to the Texas freeze and OPEC+ output curbs and unmatched global monetary stimulus, it said in a note dated Monday. The bank now expects Brent crude oil to average $60 per barrel in 2021, up from a previous
From CNBC Crude oil prices could sink by as much as $30 a barrel if China decides to buy Iranian crude oil in retaliation to the latest U.S. tariff measures, according to Bank of America Merrill Lynch. “While we retain our $60 a barrel Brent forecast for next year, we admit that a Chinese decision to reinitiate Iran crude purchases
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
