Goldman Sachs raises its Brent forecast to USD 100/bbl this quarter and USD 90/bbl in Q4, due to prolonged disruption in the Strait of Hormuz and extreme inventory draws
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Citi raises its base case average Brent price forecasts to USD 110/bbl for Q2, USD 95/bbl for Q3, USD 80/bbl for Q4
Fitch says Japan continues to show appetite for offshore yields, including exposure to US private credit
Goldman Sachs raises its Brent forecast to USD 100/bbl this quarter and USD 90/bbl in Q4, due to prolonged disruption in the Strait of Hormuz and extreme inventory draws
China's Commerce Ministry is to hold a press conference on Thursday 30th at 08:00BST/03:00EDT to brief on recent key trade and commerce developments
Chinese Industrial Profits (YTD) YoY (Mar) Y/Y 15.5% (Prev. 15.2%)
On the Newsquawk feed at , 20 minutes before this page.
Context
Goldman Sachs' revision of its Brent crude forecast to USD 100/bbl for this quarter signals a significant concern over supply disruptions stemming from the Strait of Hormuz, a crucial chokepoint for oil transport. This forecast adjustment, coupled with extreme inventory draws, emphasizes tightening supply dynamics that could impact inflation and currency movements, particularly in energy-sensitive economies, warranting close attention from traders in related asset classes.
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