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2026-07-09T16:18:36.000Z

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UPS lowers its oil price forecast amid waning tensions

UPS lowers its oil price forecast amid waning tensions

UBS Bank has lowered its outlook for global oil prices, revising the average price of Brent crude for 2026 to $84 per barrel, down by $9 from previous estimates, with a slight increase to $80 expected during the second half of the year. It also reduced its forecast for oil prices in 2027 to $75 per barrel, compared to its earlier projection of $85.

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