Metals News
German Commercial Bank: the oil market underestimates the risks posed by the situation in the Middle East
translation
08:20AM
Source:Bloomberg
The content below was translated by Tencent automatically for reference.

SMM News: the German commercial bank said in the report, the crude oil price falls too much, the bank to the Brent crude oil price forecast is higher than the current level. Analyst Carsten Fritsch said the fall in crude oil prices was exaggerated because demand was unlikely to weaken as feared. The market has also underestimated the supply risks posed by tensions in the Middle East, noting that Britain intends to join the US-led naval operation in the Persian Gulf. Commerzbank also said it doubted whether US crude oil production would rise as sharply as currently thought, cutting its forecast for Brent crude by $5 a barrel to $65 at the end of 2019 and 2020, higher than the current level.

 

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