- Analytics
- News and Tools
- Market News
- Oil: Brent to recover to USD 43/bbl by year-end – UBS
Oil: Brent to recover to USD 43/bbl by year-end – UBS
FXStreet reports that economists at UBS are confident to see a recovery in oil prices later in the year.
"Energy stocks have a small index weight and sector valuations have also moved to price in the weaker outlook, with the S&P 500 energy sector trading at a 70% discount on price-to-book relative to the index as a whole."
"While the oil market is heavily oversupplied this quarter, we expect it to move toward balance next quarter and become under-supplied in 4Q this year as lockdown restrictions are eased and oil demand picks up."
"We forecast Brent to recover to USD 43/bbl by year-end."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
