A survey of 40 economists and analysts forecast Brent crude would average $87.12 a barrel in 2023, up from the $86.49 consensus in March and current levels of around $78
Australian shares are set for a weak open on Monday after US inflation data came in hotter than expected, intensifying concerns that the Federal Reserve will need to keep lifting interest rates which could tip the world’s largest economy into recession.
Federal Reserve and European Central Bank officials have warned that the fight against inflation has some way to go, and further tightening is required.