UBS: RECENT US-IRAN MOU & RESULTING UPLIFT IN OIL FLOWS VIA STRAIT OF HORMUZ HAVE PROMPTED A CUT TO OUR NEAR-TERM OIL PRICE FORECASTS

July 2 (Reuters) - UBS on Thursday cut its Brent crude forecasts to $80 a barrel for end-September and end-December, citing the recent U.S.-Iran memorandum of understanding resulting in an increase in oil flows via the Strait of Hormuz.

The bank also lowered its 2027 average Brent crude price forecast to $75 per barrel.


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