Once upon a time by reducing oil estimates and joining other major Wall Street companies, HSBC was once optimistic.
reduced his views. Analysts of the Bank said that Brent crude oil would fall from $ 93.50 to $ 80 in the second half of the year. He also reduced his long -term forecasts from $ 85 to $ 75 per barrel. Brent crude oil is currently around $ 75.
A few senior investment banks, such as Goldman Sachs and JPMorgan, have reduced their previous expectations for higher oil prices in recent weeks. According to the analysts of Wall Street banks, prices may be under pressure due to the potential of high interest rates and the high market supply led by Russia’s strong exports.
HSBC analysts said that the market is directed by macroeconomic concerns rather than the basic data, and that they think that this will continue in the summer months. HSBC expects the markets that the markets will still tighten in the second half due to factors such as OPEC+ supply interruptions, strong Chinese demand and renewal of the US emergency reserves.
