Reported 6 months ago
JPMorgan analysts forecast that oil prices, which recently experienced a temporary pullback, will likely increase in the coming months due to rising demand. West Texas Intermediate (CL=F) futures rose above $75 per barrel, and Brent (BZ=F) traded just below $80 per barrel. The analysts anticipate a surge in demand leading to Brent reaching the high $80s-$90 range by September, with a projected slowdown in demand growth by 2025, causing prices to average $75 for that year. Oil futures had peaked in April at over $86 for WTI and over $91 for Brent.
Source: YAHOO