UBS cut its Brent crude forecast by $25 for the September quarter to about $80/bbl on average, reflecting improved supply conditions as oil flows rise via the Strait of Hormuz following the U.S.-Iran agreement. It also expects prices to hold for the quarter after, implying reduced near-term upside volatility. Overall, the revision is a modestly bearish signal for crude prices into the September period.
UBS cut its Brent crude forecast by $25 for the September quarter to about $80/bbl on average, reflecting improved supply conditions as oil flows rise via the Strait of Hormuz following the U.S.-Iran agreement. It also expects prices to hold for the quarter after, implying reduced near-term upside volatility. Overall, the revision is a modestly bearish signal for crude prices into the September period.
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mildly negative
Sentiment Score
-0.20
