Homepage / Currency / Oil could see downward correction in next quarter, Barclays says
Базовые правила и условия игры в kazino online на настоящие деньги Ana amaç çevrimiçi kumarhane 7slots: önemli avantajlar ve kategoriler Как начать игру в казино онлайн на настоящие деньги 1win Apk: Um Melhor Aplicativo Pra Jogos De Cassino Aqui No Brasil” 1win Apk: Um Melhor Aplicativo Pra Jogos De Cassino Aqui No Brasil” Mostbet Azerbaycan Rəsmi Casino Giriş Və Qeydiyyat Mostbet A Миссди Ххк Cassino Online Operating System Melhores Jogos At The Bônu 1win Mali Site Officiel des Paris Sportifs et Casino Inscription 1xbet Aviator How To Play The Aviartor Game On 1xbet In Nigeri прохода 1win Официальный Сайт Букмекерской Конторы же Казино 1ви Скачать Пин Ап Казино%3A Мобильное Приложение Pin Up Be Laurence Escalantes online casino empire feels heat of US lawsuits 1xbet Paid For Over $836, 000 To A Player From Africa Казино Покердом Играть Онлайн Бесплатно%2C официальный Сайт%2C Скачать Клиен Бесплатные Игры Казино Слоты И Игровые Автомат “казино Pin Up%3A находимся Вместе К вожделенной Мечте Ücretsiz Slot Oyunları Silvergames’te Çevrimiçi Oynayın Mostbet Bookie: Legjobb Szorzók És Élő Fogadási Élmény Online Mostbet Login To Your Online Casino Personal Account In Bangladesh! Top 10 Best Online Gambling Dens In 2024 Tested & Approve Powerful casino tactics in 2024: 7 vital methods for athletes Guide to Online Casinos in Canada “Online Kumarhane Oyna Çevrimiçi Kumarhane Nolimitwa Legalzoom Hisse Geri Alım Programını 75 Milyon Dolar Artırdı Yazar Investing Co Как играть в симуляторы в онлайн-казино Вавада Игровые Автоматы Демо Играть Бесплатно нет Регистраци Glory Casino: Top Online Casino Video Games In Banglades Рейтинг Надежных Онлайн Казино Лучшие Топ Клубы Росси Fortune Tiger Slot Review: Análise E Como Joga 1win Au Bénin: Une Revue Complète De La Plateforme De Paris En Lign Sledování Titulu Casino Suprême: Kde Sledovat What is a Data Room? Как Стать Стримером Казино%3F Что для Этого Нужно%3 Best Game Software How to Design Engaging and Effective Educational Events Winline Делает Разницу! Букмекерская Контора Winline Онлайн Ставки На Спорт Making Corporate Travel Arrangements Business Virtual Data Room Stock Market Tips For Beginners What to Look for in a VDR Provider Why You Need a Secure Data Room Learning in the Digital Age How to Apply For Business Loans VDR and Document Management Performance Management and HR Outsourcing Modern Business Integration How to Choose the Right Board Portal Software for Your Company How to Choose a Data Storage Room Why Startups Use a Data Room for Investors The Best Web Tools for Designers Use Cases For Using VDR Documents Subsidy Programs and Financing Innovative Technologies for Audit What Is Real Estate Management? Investment and Funds Inspiring Teaching Books What Are the Benefits of a Virtual Data Room? Startups and Business Ideas How to Improve Virtual Board Communication The Lego Company History Investing in the Biotech Industry Financial Startup Basics Jogue Por Dinheiro Actual Em Cassino Onlin Virtual Communication Methods for Remote Leaders How to Choose the Best VDR Providers How Successful Online Businesses Succeed How Business Experts Fuel Innovation and Create Competitive Edge The IT World and Business Deal Making Software and How it Can Help Your Business Virtual Data Room Software Types of Steel Materials and Their Uses Board of Directors Software Bonver Casino Cz Hrací Automaty S Bonusem Zdarm Magazyn Żużel Speedway W Polsce I Na Świeci What Is Logistics School? What Is the VDR for Acquisition? The Best Data Room Apps For Startups Best Practices for Creating an Effective Board Meeting Agenda How to Choose the Best Shareholders Online Platforms Ostdeutsche Biersorten Getting a Construction Management Degree How to Select an Online Data Room Provider Start Your Blog Without Investment What to Look for in a Board Room Provider Data Room Comparison – Which Data Room Is Right For Your Business? Zakłady Sportowe Online Autógrafo Bukmacherska 1xbe “Pin-up O Melhor Cassino Do Brasil Web Site Oficial ᐈ Jogar Caça-níquei Rotating Events in Our Time How to Choose the Best Business Software Choosing an Online Payment Processor Due Diligence Software Virtual Data Room Providers for M&A Due Diligence The Best Online Data Room Benefits of a Due Diligence Data Room Best Practices for Data Rooms Types of Corporate Governance What Is Virtual Data Storage? Benefits of Document Distribution Software The Benefits of a Data Room for Startups Effective Project Management Requires a Mix of Technical and People Skills

Currency, United States Finance

Oil could see downward correction in next quarter, Barclays says

Oil market is expected to see a downward correction this quarter but Brent prices will move higher in the final quarter of this year, according to a research note from Barclays.

“Prices have moved higher, due to a perfect combination of a favorable macro environment, a seasonal uptick in consumption, continued inventory drawdowns, and geopolitical unrest,” the note said. “Certain factors that supported prices in July are unlikely to last, and we expect a downward correction during this quarter.”

The report, however, forecasts Brent prices going up to $54 a barrel in last three months of the year, based on continued inventory draws, OPEC discipline, and the ongoing decline in output in Venezuela.

The report further added that during the recent market rally, prices moved higher because of a paring back of selling positions, rather than new buying trades entering the market.

“Fundamentals remain shaky this quarter, therefore any rally that occurs before more substantive inventory draws would be short-lived.”

Oil markets traded lower in Friday’s session, with U.S. crude remaining below $50 per barrel, restrained by rising output from the U.S. as well as producer club OPEC. Both Brent and WTI are down more than 9 percent since the start of the year and close to 20 percent over a 12-month period.

A number of analysts have predicted oil prices to go back up this year. RBC Capital Markets’ Helima Croft told CNBC earlier this week that there is very high probability Venezuela’s state oil company will default and bring about a steep jump in crude prices.

“I think that’s going to be the biggest geopolitical story to watch in the oil markets,” said Croft, RBC’s global head of commodity strategy, on Tuesday’s “Trading Nation.” “The question is how fast does Venezuela fail?”

Croft expects this could be a catalyst pushing oil prices to $70 to $80 a barrel by fall.

The Trump administration imposed sanctions on Venezuela, one of the world’s top crude producers, earlier this week as political turmoil continued to cause chaos and the country runs out of cash. This was in response to Sunday’s election of a constitutional super-body that Washington has already denounced as a “sham” vote, U.S. officials told Reuters.

According to Reuters, the U.S. is still considering broader sanctions against Venezuela’s oil industry, which could hit the country’s economy that is heavily-dependent on oil.

The country’s economy is almost completely at the mercy of the oil industry as it contributes around 95 percent of the country’s exports. However, falling investments in the industry has made it less profitable and productive.

According to Barclays, in the light of the political situation in Venezuela, the market appears better prepared to cope with any loss in supply. Sanctions targeted towards Russia are also unlikely to have much of a short-term or medium-term impact.

The inventory drawdown is the main reason why Barclays expects a small upswing in prices from Q3 to Q4. “Inventory drawdowns, Venezuela, and the Asian macro backdrop will likely play a more prominent role in the remainder of the year.”

Follow CNBC International on Twitter and Facebook.

Source: cnbc
Oil could see downward correction in next quarter, Barclays says

Comments are closed.