Models of oil barrels and a pump jack are displayed in front of a stock graph in this illustration. - Reuters
AMID the one-year war anniversary in Ukraine and altered crude oil flows, Dated Brent prices are set to remain relatively muted in the first half of 2023 on ample inventories despite persistent supply risks, with an upward swing likely later in the year as China demand perks up.
"Dated Brent prices in H1 2023 are expected to average around $80/b before recovering to $85-$90/b for H2 2023," S&P Global Commodities Insights said in its latest commodities brief, noting that stocks will get drawn down toward the second half of 2023.
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