ANZ has increased its year-end Brent Crude forecast to $105 per barrel, anticipating that current supply chain constraints and Middle Eastern export limitations will persist through the end of the year.
ANZ has revised its year-end Brent Crude price forecast upward to $105 per barrel, representing a $10 increase from previous estimates. This adjustment is predicated on the expectation that current logistical bottlenecks, including restricted Middle East oil exports and limited shipping availability, will continue to impact global supply through December.
ANZ has set a year-end target of $105 per barrel.
No, the forecast assumes that existing constraints will persist but does not require additional geopolitical shocks to reach the $105 level.
ANZ analysts raised their year-end Brent Crude price target by $10 to $105 per barrel. The bank cites ongoing disruptions to Middle Eastern oil exports and shipping availability as the primary drivers for the bullish outlook through December.
ANZ raised its forecast due to the expectation that existing constraints on Middle Eastern oil exports, shipping capacity, and refined-product markets will persist through December.