UBS lifts Brent, WTI oil price forecasts by $5/bbl, raises demand growth estimates

seekingalpha04-10

UBS on Wednesday raised its oil price forecasts by $5/bbl, estimating Brent (CO1:COM) to hold a range of $85–$95/bbl and West Texas Intermediate (CL1:COM) in $80–$90/bbl range over the coming months. ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2426468515?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1750451788/image_1750451788.jpg","is_english":true,"pubTime":"2024-04-10 17:56","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2426468515","market":"fut","top_or_hot":-1,"title":"UBS lifts Brent, WTI oil price forecasts by $5/bbl, raises demand growth estimates","media":"seekingalpha","content":"<div>\n<p>UBS on Wednesday raised its oil price forecasts by $5/bbl, estimating Brent (CO1:COM) to hold a range of $85–$95/bbl and West Texas Intermediate (CL1:COM) in $80–$90/bbl range over the coming months. ...</p>\n\n<a href=\"https://seekingalpha.com/news/4088465-ubs-lifts-brent-wti-oil-price-forecasts-by-5bbl-raises-demand-growth-estimates\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UBS lifts Brent, WTI oil price forecasts by $5/bbl, raises demand growth estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUBS lifts Brent, WTI oil price forecasts by $5/bbl, raises demand growth estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-10 17:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4088465-ubs-lifts-brent-wti-oil-price-forecasts-by-5bbl-raises-demand-growth-estimates><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>UBS on Wednesday raised its oil price forecasts by $5/bbl, estimating Brent (CO1:COM) to hold a range of $85–$95/bbl and West Texas Intermediate (CL1:COM) in $80–$90/bbl range over the coming months. ...</p>\n\n<a href=\"https://seekingalpha.com/news/4088465-ubs-lifts-brent-wti-oil-price-forecasts-by-5bbl-raises-demand-growth-estimates\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4559","symbol_name":"巴菲特持仓","start_time":0,"source_url":"https://seekingalpha.com/news/4088465-ubs-lifts-brent-wti-oil-price-forecasts-by-5bbl-raises-demand-growth-estimates","article_id":"2426468515","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1750451788/image_1750451788.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2426468515","pubTimestamp":1712743013,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"UBS on Wednesday raised its oil price forecasts by $5/bbl, estimating Brent (CO1:COM) to hold a range of $85–$95/bbl and West Texas Intermediate (CL1:COM) in $80–$90/bbl range over the coming months. ","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4559":"巴菲特持仓","BK4588":"碎股","UCO":"二倍做多彭博原油ETF","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","BK7095":"多种金属与采矿","USB":"美国合众银行","BNO.AU":"Bionomics","BNO":"美国布伦特原油基金有限合伙企业","BK7104":"黄金","BK4207":"综合性银行","WTI":"W&T海底钻探","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","USL":"United States 12 Month Oil Fund LP","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","BK4581":"高盛持仓","DRIP":"Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","BK4504":"桥水持仓","DBO":"原油ETF-PowerShares","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","BK7507":"资源股","BK4563":"昨日强势股","BK4127":"投资银行业与经纪业","GUSH":"Direxion Daily S&P Oil &Gas Exp. & Prod. Bull 2X Shares","BK7508":"医药生物股","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","DBO.AU":"Diablo Resources Limited","SCO":"二倍做空彭博原油指数ETF","BK4213":"石油与天然气的勘探与生产","LU0106831901.USD":"贝莱德世界金融基金A2","USO":"美国原油ETF","BK4570":"地缘局势概念股","BK7506":"金矿股","USOI":"X-Links Crude Oil Shares Covered Call ETN","USL.AU":"Unico Silver Ltd","NRGU":"MicroSectors U.S. Big Oil Index 3x Leveraged ETN","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU0971096721.USD":"富达环球金融服务 A","BK7067":"生物科技","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H"},"translate_title":"瑞银上调布伦特原油和WTI原油价格预测5美元/桶，提高需求增长预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GUSH":1,"WTI":1,"USOI":1,"USO":1,"USL.AU":1,"USL":1,"USB":1,"NRGU":1,"DRIP":1,"DBO.AU":1,"DBO":1,"BNO.AU":1,"BNO":1,"UCO":0.6,"SCO":0.6},"content_text":"UBS on Wednesday raised its oil price forecasts by $5/bbl, estimating Brent (CO1:COM) to hold a range of $85–$95/bbl and West Texas Intermediate (CL1:COM) in $80–$90/bbl range over the coming months. The Bank also increased its demand growth estimates for the year, while cutting its OPEC+ crude production projection for 2Q24. UBS increased 2024 oil demand growth forecast by 0.1mbpd to 1.5mbpd and introduced a 2025 demand growth forecast of 1.3mbpd, stating that, demand in the Organisation for Economic Co-operation and Development (OECD), particularly in the European periphery, has been \"surprisingly strong, while ongoing resilient economic activity in the U.S. supports demand there.\" On the supply side, the Bank lowered its Russian crude production forecast, with the country shifting from export cuts to production cuts. Russia's government last month ordered companies to reduce oil output in the second quarter to ensure they meet a production target of 9 million barrels per day by the end of June.  Brent futures (CO1:COM), a global benchmark, currently trade at about $89.64 a barrel. Market conditions this summer will allow for some of the voluntary OPEC+ production cuts to be unwound, UBS says, adding, it still looks for a modest decline in prices toward the end of the year. Citing rising geopolitical risks, Morgan Stanley analysts raised their Brent crude price forecast for Q2 by $4.50/bbl to $92 and for Q3 by $4/bbl to $94, on Tuesday. J.P. Morgan Global Commodities Research sees Moscow’s decision to reduce oil output pushing prices to $100 a barrel this year. ETFs: (USO), (BNO), (UCO), (SCO), (USL), (DBO), (DRIP), (GUSH), (NRGU), (USOI)   More on Crude Oil Futures, Brent Futures, etc.  Crude Oil Prices Turn North Following Long-Term Fundamentals Bad Weather Drops U.S. January Oil Production Oil Update - March 2024 Q3 crude oil price outlook raised at Morgan Stanley on rising geopolitical risk Gold, oil drive global commodity open interest value towards 2022 highs - JPM","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2426468515"}