Oil Is Not Out of the Woods Yet ...Middle East

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Oil Is Not Out of the Woods Yet
source : OILPRICE ( Middle East ) () 45
Oil prices started the week with a gain after slumping to the lowest in nearly three years, with analysts of a mostly unanimous opinion that bearish factors are stronger than bullish ones, regardless of their actual weight. Some even believe prices will fall further before a correction begins. Morgan Stanley, for instance, revised down its Brent crude forecast for the fourth quarter to $75 per barrel from $80 per barrel. Swedish financial major SEB concurs, with its chief commodities analyst also putting Brent’s average at $75 per barrel—in…

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