ICYMI - Morgan Stanley raised its Brent crude oil price forecast as high as $94 (from $90) ...Middle East

Morgan Stanley raised its Brent crude oil price forecast for Q2 to $92 /barrel (from $87.50)for Q3 of 2024 to $94 / barrel (from $90)Citing geopolitical risk, and supply & demand issues:"That the degree of geopolitical risk in key oil producing regions has increased recently seems clear and uncontroversial,"On supply being trimmed:OPEC+ last week kept its oil supply policy unchanged and advised some countries to increase compliance with output cutsAnd:some downside to Russia production (Ukrainian strikes on Russian refineries may have disrupted more than 15% of Russian capacity)a seasonal upswing in demand aheadfading hope on Israel / Hamas ceasefireInfo via Reuters This ar

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