Oil Achieves 20% Monthly Gain As Analysts Reiterate Their Bullish Recovery Stanceth shipandbunker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from shipandbunker.com Daily Mail and Mail on Sunday newspapers.
Oil set for steady gains as economies shake off pandemic blues – Reuters poll
Oil prices will stage a steady recovery this year as vaccines reach more people and speed an economic revival, with further impetus coming from stimulus and output discipline by top crude producers, a Reuters poll showed on Friday.
The survey of 55 participants forecast Brent crude would average $59.07 per barrel in 2021, up from last month’s $54.47 forecast.
Brent has averaged around $58.80 so far this year.
“Travel and leisure activity look set to catch up to buoyant manufacturing activity due to the mix of stimulus, confidence, vaccines, and more targeted pandemic measures,” said Norbert Ruecker of Julius Baer.
Oil prices will stage a steady recovery this year as vaccines reach more people and speed an economic revival, with further impetus coming from stimulus and output discipline by top crude producers, a Reuters poll showed on Friday.
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Here is the current market situation from CNN Money
North and South American markets are mixed. The S&P 500 is higher by 0.27%, while the IPC is leading the Bovespa lower. They are down 1.39% and 0.98% respectively.
What Is Moving the Markets
Here are the headlines moving the markets.
Reuters Poll: Bankers See Steady Rise In Oil Prices Brent crude will average $59.07 per barrel this year, according to a Reuters survey of analysts. This is up from last months consensus on an average of $54.47 a barrel, reflecting growing optimism about the immediate future of the worlds most traded commodity. Travel and leisure activity look set to catch up to buoyant manufacturing activity due to the mix of stimulus, confidence, vaccines, and more targeted pandemic measures, one of the survey respondents, Norbert Ruecker from Swiss Julius Baer, t