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Brent crude futures rose to $74.60 a barrel on Tuesday and US West Texas Intermediate crude was up at $71.66 a barrel. For the year, Brent declined 3.2%, while WTI was down 0.1%. For the year ...
To be sure, the forecast for $120 a barrel marks a stark divergence from Citi's base case, which is for crude prices to stick around $74 a barrel before drifting lower to $60 a barrel later next year.
With crude price scenarios ranging +/-$10/bbl around the base case, the downside case of $70/bbl Brent aligns with current strip prices, underscoring downside risks beyond 2026.
Oil prices will fall to an average of $65 per barrel in 2025 amid an oversupply of crude and a backdrop of slowing demand as ... JPMorgan forecasts Brent slipping from an average of $80 per barrel ...
Crude oil makes up about half the price of a gallon of gasoline, making crude the key factor on top of distribution costs and taxes. ... OPEC has cut its forecast for 2025 demand growth to 1.54 ...
Oil prices are expected to stay in the mid-$80 range this summer, but increasing supply and slowing demand will bring down prices next year, according to Citi analysts.