ICYMI: UBS expecting rising demand, falling inventory to support oil over northern summer

<p>A note from UBS argues of higher oil prices in the coming months.</p><p>Analysts at the bank cite:</p><ul><li>the seasonal rise in demand ahead</li><li>and more visibility for larger falls in oil inventory </li></ul><p>UBS point to OPEC+ crude oil output cuts cutting the cartel's exports to the lowest in a year.</p><p>Similarly on oil from earlier:</p><ul><li><a href="https://www.forexlive.com/centralbank/why-higher-central-bank-rates-are-bullish-oil-20230623/" target="_blank" rel="follow" data-article-link="true">Why higher central bank rates are bullish oil</a></li></ul><p>–</p><p>Oil slumped in price again on Thursday, with WTI back under USD70.</p>

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