Brent crude may find support at $70-$90 as global oil inventories rebuild: Saxo Bank
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Saxo Bank’s Ole Hansen expects Brent crude to settle between $70 and $90 per barrel as global oil inventories rebuild.
- ✓Even if West Asia tensions ease, prices will likely stay above pre-war levels.
- ✓He said, "The prospect of these coming down probably will take a bit longer," affecting global fuel costs.
Story at a Glance
- Category
- Indian Markets
- Reported By
- cnbctv18
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Saxo Bank's Ole Hansen sees Brent crude settling at $70-$90 even if West Asia tensions ease, while expecting gold to recover and copper to retain its long-term appeal.
Oil prices could ease if tensions in West Asia subside, but crude is unlikely to return to pre-war levels, according to Ole Hansen, Head of Commodity Strategy at Saxo Bank.
Hansen expects Brent crude to settle in the $70-$90 per barrel range, compared with the $60-$70 range seen before the conflict began.
He said a resolution to the conflict could help restore normal oil supplies and reduce additional costs arising from shipping and security disruptions. However, rebuilding global oil stockpiles over the coming quarters could lend support to prices and limit the downside.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
cnbctv18
Read the full, original unfiltered story directly on the publisher's portal.
This brief is for information only and is not investment advice. ArthNow is not a SEBI-registered investment adviser and does not publish buy or sell recommendations. Original reporting is credited to the publisher named above. Read our editorial policy or report an error.