Morgan Stanley expects Brent to average $115 in 2013
Thu 06 Sep 2012
LONDON (SHARECAST) - Morgan Stanley expects the price for a barrel of Brent crude oil to average $115 next year.
These analysts feel that 2013 “is likely to be a year marked by continued price volatility given tight product balances, heightened geopolitical risks, a global realignment of refining capacity and trade flows and more inventory and crude demand falling into the less transparent non-OECD.” They note that the price should move between $95 and $130 during the year.
They admit that “uncertainty abounds” but consider that “risks are skewed towards a tighter global balance throughout much of 2013 particularly in the second half.”
Brent futures are currently trading up 1.03% to $114.25 per barrel.