What a rollercoaster: In the beginning of the Iran war, oil reached $118/barrel. Now, amid the (shaky) US-Iran ceasefire, Morgan Stanley predicts that Brent crude could average at $75/barrel in Q3 of this year (and $70 in late 2027).
Here we go again: This means we’ll likely return to the oil glut we faced before the war, Morgan Stanley analysts noted.
Molly Glick
Energy Central Team
Tue, Jun 30