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Tony Webster
Analysts at Morgan Stanley reduced their prediction for the Dated Brent crude benchmark price in the fourth quarter from $100 to $90 per barrel, the report indicates.
The previous day, media outlets announced that US President Donald Trump and Iranian Parliament Speaker Mohammad Bagher Ghalibaf digitally signed a memorandum regarding the resolution of the Middle East crisis. The formal signing event is anticipated to take place on June 19. Trump stated after discussions with French President Emmanuel Macron that the Strait of Hormuz has been partially reopened and will be completely opened on Friday.
Morgan Stanley anticipates that oil production in the Middle East will start to rebound in mid-July. Analysts predict that 50% of the oil output lost amid the conflict will be recovered by September, and 80% by December.
Simultaneously, Goldman analysts think that oil exports from the Persian Gulf may reach pre-war levels by the end of July, a month sooner than the earlier estimation.
source: wsj.com
The previous day, media outlets announced that US President Donald Trump and Iranian Parliament Speaker Mohammad Bagher Ghalibaf digitally signed a memorandum regarding the resolution of the Middle East crisis. The formal signing event is anticipated to take place on June 19. Trump stated after discussions with French President Emmanuel Macron that the Strait of Hormuz has been partially reopened and will be completely opened on Friday.
Morgan Stanley anticipates that oil production in the Middle East will start to rebound in mid-July. Analysts predict that 50% of the oil output lost amid the conflict will be recovered by September, and 80% by December.
Simultaneously, Goldman analysts think that oil exports from the Persian Gulf may reach pre-war levels by the end of July, a month sooner than the earlier estimation.
source: wsj.com
