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Morgan Stanley Sees Brent Rally to US$130/bbl

OIL
MNI (London)

"We see further inventory draws ahead as the year progresses, and with spare capacity eroding and still only a modest capex response, we suspect that Brent prices will need to move higher," wrote Morgan Stanley.

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"We see further inventory draws ahead as the year progresses, and with spare capacity eroding and still only a modest capex response, we suspect that Brent prices will need to move higher," wrote Morgan Stanley.