Why Wall Street’s Top Banks Are Betting Oil Will Stage a Recovery
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Oil is set to rebound in the fourth quarter, according to some of Wall Street’s leading banks, as low inventories and sustained demand underpin a recovery despite growing concerns of a global slowdown.
JPMorgan Chase & Co. forecasts London’s Brent oil at $101 a barrel for the final three months of 2022, while Goldman Sachs Group Inc. sees $125 and Morgan Stanley targets $95. The global crude benchmark was last near $90.