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market | IST

Expect Brent crude price to move towards $90/bbl: Fat Prophets

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“At this point in time we are probably looking towards USD 90 per barrel Brent price,” said David Lennox, Analyst, Fat Prophets in an interview with CNBC-TV18.

“At this point in time, we are probably looking towards USD 90 per barrel Brent price,” said David Lennox, Analyst, Fat Prophets, in an interview with CNBC-TV18.
“Brent prices have been somewhat volatile and it is primarily because when we saw the demand story start to resurface, we saw significant rises as well and when we see the supply story coming in, we see fresh supplies coming on,” he said.
“We have seen the oil prices rise. We think over the course of the next couple of weeks, we are going to see the oil prices continue to rise,” he said.
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There is some amount of a demand push-on here rather than anything to do with supply, Lennox noted.
“We are going to see oil prices continue to moderately rise as the fear of higher demand continues to grip oil prices,” he said.
For the full interview, watch the accompanying video.
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