Oil prices have calmed down after the sharp rise at the start of the war in Ukraine. The Commerzbank strategists expect the price of Brent oil to fall to $95 a barrel by the end of the year.
Brent oil will fluctuate between 100 and 115 dollars in the current quarter
“We expect the price of Brent oil to continue fluctuating between 100 and 115 dollars per barrel in the current quarter, before falling in the second half of the year.
“Brent should trade at $95 by the end of the year. This is based on the assumption that there will be an EU oil embargo on Russian oil. This would increase demand for non-Russian oil, which would also have a deterrent effect.” increase in prices and, therefore, would justify a somewhat higher level of oil prices in the second half of the year than we had anticipated until now.”
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
