Bank of America Upgrades Brent Outlook
Bank of America has raised its forecast for Brent crude oil prices, suggesting that the price may range between $95 and $120 per barrel if the conflicts hindering navigation in the Strait of Hormuz continue until the end of the year. There is also a possibility that it could reach $150 per barrel in the event of a broader escalation of the conflict, causing significant damage to energy infrastructure. Additionally, the bank has increased its outlook for Brent prices in the second half of the year to $83, and for 2027 to $75.
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