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Wednesday, June 17, 2020

Our Take on Crude Oil (Platts Dubai AUG-2020)

Plenty of upside space with supporting technical indicators and a similar forecast also made by BP. The overall momentum is an uptrend and technical indicators demonstrate $40 (EMA21W) as interim resistance. A break sustained above this level may trigger a bullish momentum. 

It now expects international benchmark Brent crude futures to average around $55 a barrel from 2021 through to 2050, with Henry Hub gas prices forecast to average $2.90 over the same period.

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