Morgan Stanley raised its Brent price forecast to $80 a barrel (from $75) for Q4 2024

Morgan Stanley has bumped its forecast for Brent crude oil in the final quarter of 2024 to $80 / Barrel

• up from its previous forecast of $75

MS cite heightened geopolitical risk.

MS are wary though, saying demand is weaker than expected and supply has been robust. And thus warn of a widening surplus in the market into next year.

—

Oil update, dipped back from its recent high on Wednesday:

• Forexlive Americas FX news wrap 8 Oct:Some of the major currency pair following technicals

This article was written by Eamonn Sheridan at www.forexlive.com.