Morgan Stanley Cuts Oil Forecast Again as Market Concerns Deepen

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Morgan Stanley أخبار

Bloomberg,Brent Crude Price,Martijn Rats

(Bloomberg) -- Morgan Stanley reduced its Brent crude price forecasts for the second time in a matter of weeks, as demand challenges mount while supplies...

-- 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.

“The recent trajectory of oil prices has similarities to other periods with considerable demand weakness,” Rats and his colleagues said in the report dated Sept. 9. Time spreads — price comparisons along the futures curve — indicated the coming of “recession-like inventory builds,” although it was too early to make this the bank’s base case, they said.

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