Strategists at OCBC Bank discuss Brent Crude Oil outlook.
Brent Crude Oil to trade in a range-bound manner in the near term
We maintain our forecast for Brent Crude Oil prices to average ~$90/bbl this year implying higher Oil prices in the coming months.
That said, in the near term, we expect Brent Crude Oil to trade in a range-bound manner ($70-80/bbl) as demand concerns outweigh supply considerations.
See: WTI to approach the $90 mark in the latter part of the year – TDS
This article was originally published by Fxstreet.com. Read the original article here.