Signs of euphoria in Brent, WTI oil forecasts – but challenges ahead to cap the price

<p>A snippet from BMO on the revision higher for oil price projections,:</p><ul><li>expect the drumbeat of $90 or $100 predictions to pick up in the coming weeks</li><li>Reaching these levels, at least temporarily, is not a tall order given Crude Oil is the most intensely speculated commodity, which helps explain its high degree of price volatility</li></ul><p>but, analysts at the bank remain unconvinced:</p><ul><li>The price of crude oil has some solid wind in its sails, but it still has many challenges ahead. </li><li>As a result, we remain comfortable with our current WTI projections of $78 for the whole of 2023 (or $81 in H2) and $80 in 2024 but acknowledge that the balance of risks has tilted more to the upside</li></ul><p>WTI update:</p>

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