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One fund is taking on a cheap long-shot bet that Brent crude will climb toward US$100 a barrel amid revived tensions in the Middle East, even as industrywide pessimism sees banks across Wall Street revising price forecasts lower.
KUALA LUMPUR: BMI, a unit of Fitch Solutions, has maintained its 2025 forecast for Brent crude at an average of US$76 per barrel (bbl), slightly lower than the average of US$80/bbl in 2024.
Oil prices fell on Friday evening (March 29) on worries that US tariff wars could spark a global recession, but gained for a third consecutive week after Washington ratcheted up pressure on OPEC members Venezuela and Iran.
Oil prices fell on Friday on worries that US tariff wars could spark a global recession, but gained for a third consecutive week after Washington ratcheted up pressure on Opec members Venezuela and Iran.
Oil prices decreased on Friday due to heightened concern over a supply surplus in 2025, while the expectation of increased demand in the world's largest oil consumers, the US and China, capped losses, reported Anadolu Agency (AA).
Oil prices extended gains on Monday, with Brent nearing $80 to build on last week's steepest weekly jump since early 2023, driven by fears of a wider Middle East conflict and potential disruption to exports from the major oil-producing region.
HOUSTON: Brent crude oil prices fell by US$1 a barrel to US$72.75 on Wednesday because of pessimism about demand in the coming months as crude producers offered mixed signals about supply increases.
Oil prices eased a touch but held near one-month highs on Friday as they headed for a third weekly gain on a tightening global supply outlook after the US imposed tariffs against countries buying oil from Venezuela and placed curbs on Iranian oil trade.
SINGAPORE: Oil prices inched up on Friday amid signs of easing inflationary pressures in the United States, the world's biggest oil consumer, although Brent crude was set for a weekly decline.
Oil prices inched up on Friday amid signs of easing inflationary pressures in the United States, the world's biggest oil consumer, although Brent crude was set for a weekly decline.
Oil prices for Brent crude hit their highest level since April on Thursday, holding above US$87 after data the previous day showed a decline in US inventories.
The outlook for the Malaysian upstream oil and gas (O&G) segment is expected to be favourable, with Brent crude oil prices likely to hover around US$80 per barrel in the near term.
LONDON: Global oil benchmark Brent on Tuesday rose above $89 a barrel for the first time since October, albeit briefly, as oil supplies faced fresh threats from Ukranian attacks on Russian energy facilities and escalating conflict in the Middle East.
LONDON: Oil prices were stable on Wednesday, as investors mulled supply risks stemming from ongoing Ukrainian attacks on Russian refineries and the potential for a widening of the Middle East conflict.
While Malaysia's listed oil and gas (O&G) providers have occasionally delivered returns to investors, the sector is looking dour today.
PETALING JAYA: The outlook for the crude oil market for this year is plagued with uncertaintiy arising from US President Donald Trump's trade policies and escalation of geopolitical risks.
Brent crude oil prices are expected to hover around US$85 to US$95 in the remaining part of 2023 based on current geopolitical developments, supply dynamics, financial markets and seasonal effects, says Malaysian Rating Corp Bhd (MARC).
GOLDMAN Sachs trimmed its price expectation for Brent crude in 2024 by $10 per barrel to between $70 and $90, saying strong production from the United States would moderate any upside in oil prices.
Oil prices extended gains on Thursday, settling up more than US$1 as geopolitical tensions and output cuts outweighed caution about US Federal Reserve rate cuts.
Brent crude futures edged up on Friday, partially reversing losses from the previous session as traders speculated on whether the OPEC+ producer group would come to an agreement on further supply cuts.
