(Investing) – UBS has lowered its oil price forecasts for 2026 and 2027 amid a faster-than-expected recovery in flows through the Strait of Hormuz following an interim U.S.-Iran memorandum of understanding (MoU) signed on June 17. The bank now expects Brent to average $84 a barrel in 2026, down $9 from its previous estimate, and $75 a barrel in 2027, a $10 cut. WTI forecasts
(Investing) – Three major brokerages have raised their oil price outlooks as the Iran conflict disrupts flows through the Strait of Hormuz, tightening an already fragile global supply picture and pushing crude prices higher. Swiss brokerage UBS said crude markets are “on edge” with tanker traffic severely constrained. “Limited progress to unlock the world’s most important energy chokepoint have added to crude
(Investing) – UBS on Wednesday raised its average Brent crude oil price forecasts for the first quarter and full year 2026, citing escalating conflict in the Middle East and the current near de facto closure of the Strait of Hormuz. The bank now sees the Brent price averaging $71 per barrel in the first quarter, implying around $80 a barrel in March, and at
(Investing) – Brent crude prices are anticipated to hover in the $60 per barrel to $70 per barrel range in the near term, as traders weigh the trajectory for Russian oil exports over the coming months, according to analysts at UBS. In a note, the analysts including Giovanni Staunovo predicted that Brent crude would end the year at $62/bbl and retained
(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
(Investing) – Crude prices have traded lower Friday, on course for a negative week, as demand concerns and a stronger US dollar weighed on investor sentiment. But UBS cuts its 2025 Brent forecast, but sees room to recover from current levels. By 07:20 ET (11:20 GMT), the U.S. crude futures (WTI) dropped 1% to $68.03 a barrel, while the Brent contract fell 0.9% to
BOE Report UBS cut its oil price forecasts for 2024, citing a weaker global demand outlook especially driven by a slowing Chinese economy. It lowered its price view for both Brent and WTI by $4 to $80 per barrel and $76 per barrel respectively. “The key downside risks would be a recession, which would in turn raise the risk of
Yahoo Finance If producer group OPEC+ doesn’t reduce production further, the average price of oil could drop to $60 per barrel in 2025 due to reduced demand and increased supply from non-OPEC countries, Citi said in a note on Wednesday. Citi said that while a technical rebound was possible, the market could lose confidence in OPEC+ defending the $70/bbl level
CNBC The 60 largest commercial and investment banks have collectively financed $3.8 trillion in fossil fuel companies between 2016 and 2020, the five years since the Paris Agreement was signed, according to a report published in March from a collection of climate organizations titled Banking on Climate Chaos 2021. But that number is not the full story: Some banks have been increasing their business with
Reuters LONDON (Reuters) – A group of 30 asset managers with more than $9 trillion under management launched the Net Zero Asset Managers Initiative on Friday to help clients ensure their portfolios are carbon neutral by 2050. The group, which includes Schroders and UBS Asset Management, said it would prioritise securing real reductions in emissions at the companies in which
Reuters LONDON/QUITO – European banks committed to backing action on climate change face allegations of double standards from indigenous groups in Ecuador after a report named them as major players in the trade in oil from the Amazon rainforest. Stand.earth and Amazon Watch said ING, Credit Suisse, Natixis, BNP Paribas, UBS and Rabobank were the largest backers in the shipment
Reuters UBS raised its forecasts on Thursday for the price of Brent crude this year, citing expectations of an undersupplied oil market as demand starts to pick up on the back of a recovering global economy. “Supply is being curbed by OPEC+ voluntary production cuts and due to massive cuts in non-OPEC oil companies’ capital expenditures,” the bank said, as
