{"id":14078,"date":"2011-05-28T07:46:17","date_gmt":"2011-05-28T05:46:17","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/14078\/brent-oil-closes-off-near-115-as-banks-turn-bullish-on-prices\/"},"modified":"2011-05-28T07:46:17","modified_gmt":"2011-05-28T05:46:17","slug":"brent-oil-closes-off-near-115-as-banks-turn-bullish-on-prices","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/14078\/brent-oil-closes-off-near-115-as-banks-turn-bullish-on-prices\/","title":{"rendered":"Brent oil closes off near $115 as banks turn bullish on prices"},"content":{"rendered":"

Brent oil closes off a steady trading week near $115 a barrel after bullish comments from major investment banks including Barclays Capital, Goldman Sachs and Morgan Stanley push the European oil contract back into a possible vertical price ascent.<\/p>\n

Brent Oil Futures \u2013 Closing Price<\/strong><\/p>\n

Brent crude oil futures for July 2011 delivery ended the week\u2019s trading session at $114.98 a barrel on the ICE Futures Exchange yesterday evening, $2.55 higher than last week\u2019s closing price of $112.43 a barrel.<\/p>\n

Oil Prices Too Conservative?<\/strong><\/p>\n

Following bullish notes on Brent crude from Goldman Sachs and Morgan Stanley, Barclays Capital said that its 2011 forecast of $102 a barrel for Brent crude could be too conservative. Brent climbed to $115 barrel on the news.<\/p>\n

Early in the week Goldman Sachs raised its 2011 year end oil price forecast for Brent crude from $105 to $120 a barrel and from $120 to $140 a barrel for the end of 2012. Goldman, which correctly advised investors to sell oil and copper last month before a price slump seem to have now reversed their forecast for oil prices.<\/p>\n

Meanwhile, Morgan Stanley upped its forecast for the average Brent oil price from $100 to $120 a barrel for 2011 and from $105 to $130 a barrel in 2012.<\/p>\n<\/p>\n

Read more:
\nBrent oil closes off near $115 as banks turn bullish on prices<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Brent oil closes off a steady trading week near $115 a barrel after bullish comments from major investment banks including Barclays Capital, Goldman Sachs and Morgan Stanley push the European oil contract back into a possible vertical price ascent. Brent Oil Futures \u2013 Closing Price Brent crude oil futures for July 2011 delivery ended the week\u2019s trading session at $114.98 a barrel on the ICE Futures Exchange yesterday evening, $2.55 higher than last week\u2019s closing price of $112.43 a barrel. Oil Prices Too Conservative? Following bullish notes on Brent crude from Goldman Sachs and Morgan Stanley, Barclays Capital said that its 2011 forecast of $102 a barrel for Brent crude could be too conservative. Brent climbed to $115 barrel on the news. Early in the week Goldman Sachs raised its 2011 year end oil price forecast for Brent crude from $105 to $120 a barrel and from $120 to $140 a barrel for the end of 2012. Goldman, which correctly advised investors to sell oil and copper last month before a price slump seem to have now reversed their forecast for oil prices. Meanwhile, Morgan Stanley upped its forecast for the average Brent oil price from $100 to $120 a barrel for 2011 and from $105 to $130 a barrel in 2012. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lightning_design_setting":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-14078","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/14078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=14078"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/14078\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=14078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=14078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=14078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}