Get Ready for a Rise: Morgan Stanley Predicts $90 Brent in the Near Future!
There are some smiles in OPEC countries today as oil climbs another $0.60 and consolidates the recent break to the highs of the year. Analysts at Morgan Stanley see the upside momentum continuing. They’ve bumped up their assumptions for Q3 by $10 to $90 barrel for brent crude. Currently brent is trading at $85.85 with futures at $81.50 at the end of Q3. Morgan Stanley lowered its supply forecast for OPEC and Russia by 0.2-0.3 million barrel per day and sees a modest deficit in second quarter.
How will this affect me?
If you are a consumer, you may see an increase in gas prices at the pump as the cost of crude oil rises. This could lead to higher transportation costs and potentially impact the prices of goods and services.
How will this affect the world?
On a global scale, higher oil prices can impact economies around the world. Oil is a key commodity that influences various industries and sectors. Countries heavily dependent on oil exports may benefit from the price increase, while oil-importing nations may face challenges due to increased costs.
Conclusion
As Morgan Stanley predicts a rise in brent crude prices to $90 in the near future, it is important to stay informed about the developments in the oil market. Keep an eye on how these price changes may affect you personally and be aware of the potential impacts on the global economy.
