Geopolitical Risk Will Linger In Brent

BMI View : We have revised up our 2014 and 2015 average Brent forecast s to USD109.8 / bbl and USD 108 .0 /bbl respectively . A stalemate in the Iraq conflict will see lingering geopolitical risk to supply propping up prices . In addition, a disappoin ting supply picture will persist in Europe, the Middle East and Africa, support ing prices in 2014 and 2015. WTI will be supported by elevated Brent prices . This, along with our view for robust US demand in the coming quarters, has prompted us to revise up our 2014 WTI price forecast to USD102 .0 /bbl.


Geopolitical Risk Priced-In

Iraq Sees Break In Brent Prices
Daily - Front-Month Brent Crude, USD/bbl

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Sector: Oil & Gas