Analysts at the investment bank see a short term boost for prices into the third quarter of 2019.
- prior forecast of $66/barrel (Brent) raised to $74-$76
- After Q3, Permian basin de-bottleneck should improve supply.
- A demand led move higher in the face of current high skepticism toward accelerating economic activity
- volatility created by Iran-U.S. tensions
- Nonetheless, the coming weeks may be the first window for this support to play out as the economic data calendar moves to its window of greater relevance and influences on risky assets, including oil.