Morgan Stanley has bumped its forecast for Brent crude oil in the final quarter of 2024 to $80 / Barrel
- up from its previous forecast of $75
MS cite heightened geopolitical risk.
MS are wary though, saying demand is weaker than expected and supply has been robust. And thus warn of a widening surplus in the market into next year.
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Oil update, dipped back from its recent high on Wednesday:
