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Morgan Stanley raised its third-quarter Brent forecast by $4 per barrel to $94. The bank cited OPEC supply restraint, downside to Russian output, and seasonal demand growth.
A higher forecast signals expected tightness in crude, which tends to support energy costs and biofuel-linked vegetable oil demand.
reuters.comApr 9, 2024After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
