Brent Oil could see the $60s very briefly in a financial sell-off – Rabobank
|Strategists at Rabobank analyze the path of Brent Crude Oil for the next months. In their view, a slump in prices is unlikely to last.
Brent will appreciate and average $90 for Q3 and Q4 2023
“Brent prices could see the $60s very briefly in a financial sell-off caused by an official recession. This is unlikely to last, as we believe that there are multiple levels of support in the $70s and our expectations are that Brent will appreciate and average $90 for Q3 and Q4 2023.”
“On the products side, we expect ULSD to average $3.01/gal for the year and gasoil $865/mt off the continuing shortage of global diesel inventories.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.