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Morgan Stanley Cuts Oil Forecast Again as Market Concerns Deepen
Morgan Stanley reduced its Brent crude price forecasts for the second time in a matter of weeks, as demand challenges mount while supplies remain plentiful. The global benchmark will average $75 a barrel in the fourth quarter, according to a note from analysts including Martijn Rats. That compares with an earlier projection of $80 between October and December, which was issued just last month in a cut from the prior outlook for $85. Predictions for most of next year were also pared back slightly. Brent recently tumbled to the lowest close since late 2021 as sustained concerns about weaker Chinese demand fused with ... (full story)
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- Posted: Sep 9, 2024 1:07am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 124
