Free Trial

Morgan Stanley Raises Crude Price Forecast Amid Geopolitical Risks

OIL

Morgan Stanley has lifted its crude price forecast for this year on the back of geopolitical risks, the bank said in a note, cited by Bloomberg.

  • The bank wrote: “when it comes to geopolitical risk, however, even small probabilities can add several dollars to oil prices.”
  • The bank sees some downside to Russian production, which would together with OPEC cuts and a seasonal increase in demand, tighten oil markets in 2Q and 3Q.
  • The bank lifted the 2Q 2024 Brent price forecast to $92/bbl, from $87.50/bbl previously.
  • It further raised Brent 3Q prices to $94/bbl from $90/bbl previously, 4Q24 Brent to $87.50/bbl, from $85/bbl previously.
  • Brent 1Q 2025 and 2Q 2024 prices have been raised by $2.50/bbl to $82.50/bbl.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.