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The bank said oil prices could go as high as $120 per barrel in the first quarter of 2025, implying a 62% increase. Brent crude, ... The forecast is Citi's bull case for oil, which hinges on ...
Brent crude has rallied from the low $70s in late December to $80 as of Friday. Goldman Sachs is warning of potential upside risks to oil prices following U.S. sanctions on Russia's energy sector ...
The fourth-quarter Brent price deck remains at $75/bbl, in line with quarter-to-date levels and the strip, while the 2025 price deck stays at $70/bbl, consistent with J.P. Morgan’s outlook.
Also contributing to lower prices was a prediction of lower interest rates. [45] Good U.S. economic news and Houthi attacks on ships helped oil increase for a second week, with Brent finishing at $79.07 and WTI at $73.56. [46]
US drivers could see lower gas prices this year and next as oil supply outpaces demand. ... The EIA forecasts Brent crude will fall 8% to an average of $74 per barrel in 2025 and 11% to $66 per ...
Oil platform in the North Sea. Brent Crude may refer to any or all of the components of the Brent Complex, a physically and financially traded oil market based around the North Sea of Northwest Europe; colloquially, Brent Crude usually refers to the price of the ICE (Intercontinental Exchange) Brent Crude Oil futures contract or the contract itself.
Using benchmarks makes referencing types of oil easier for sellers and buyers. There is always a spread between WTI, Brent and other blends due to the relative volatility (high API gravity is more valuable), sweetness/sourness (low sulfur is more valuable) and transportation cost. This is the price that controls world oil market price.
Kaneva and her team expect prices for Brent crude oil, the international benchmark, to remain "largely flat" in 2024, with their forecasts calling for an average price of $83 a barrel next year ...