UBS RAISES OIL PRICE FORECAST ON HORMUZ RISKSUBS raised its December oil forecasts by $5 per barrel, citing declining in | Hanami
UBS RAISES OIL PRICE FORECAST ON HORMUZ RISKS
UBS raised its December oil forecasts by $5 per barrel, citing declining inventories and escalating attacks in the Strait of Hormuz that have increased the geopolitical risk premium.
The bank now sees Brent at $100 and WTI at $96 by year-end.
UBS cautions the outlook remains highly uncertain, depending on the Middle East conflict and the pace of recovery in Gulf oil production.