Oil Prices: Market Is Oversupplied, Brent Set to Fall to $65, BofA's Blanch Says
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Francisco Blanch from BofA Securities predicts a decline in oil prices due to market oversupply, with Brent crude potentially falling to $65 by March.
January 10, 2025 | 9:00 am
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The United States Brent Oil Fund (BNO) may experience a decline in value as BofA Securities forecasts a drop in Brent crude prices to $65 by March due to market oversupply.
BNO is directly linked to Brent crude oil prices. A forecasted decline in Brent prices to $65 due to oversupply suggests a potential decrease in BNO's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80