{"id":18728,"date":"2025-08-23T17:15:13","date_gmt":"2025-08-23T17:15:13","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/18728\/"},"modified":"2025-08-23T17:15:13","modified_gmt":"2025-08-23T17:15:13","slug":"ubs-sees-brent-oil-prices-staying-in-the-high-60s-in-tight-market","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/18728\/","title":{"rendered":"UBS Sees Brent Oil Prices Staying in the High $60s in Tight Market"},"content":{"rendered":"<p class=\"speakable\">Brent Crude <a href=\"http:\/\/oilprice.com\/oil-price-charts\/#Brent-Crude\" rel=\"nofollow noopener\" target=\"_blank\">oil prices<\/a> are set to stay in the near term at the upper end of the current trading range between $60 and $70 per barrel as the market remains tight during the peak summer demand season, according to investment bank UBS. \u00a0\u00a0<\/p>\n<p>\u201cWe expect global oil demand to peak for the year in August and modestly decline over the coming months,\u201d Giovanni Staunovo, an analyst at UBS, wrote in a Friday note carried by <a href=\"https:\/\/www.tradingview.com\/news\/reuters.com,2025:newsml_FWN3UD19D:0-ubs-expects-brent-crude-in-upper-part-of-trading-range-of-60-to-70-a-barrel\/\" rel=\"nofollow noopener\" target=\"_blank\">Reuters<\/a>.<\/p>\n<p>Oil prices are expected to moderately drop toward the lower end of the $60-$70 a barrel range later this year as supply continues to rise while demand will weaken in the fourth quarter.<\/p>\n<p>\u201cWith supply in South America still expected to increase a bit more, we see the oil market better supplied over the months ahead,\u201d UBS\u2019s Staunovo said.<\/p>\n<p>Early on Friday, oil prices were <a href=\"https:\/\/oilprice.com\/Latest-Energy-News\/World-News\/Oil-Prices-Set-for-Weekly-Rebound.html\" rel=\"nofollow noopener\" target=\"_blank\">set for weekly rise<\/a>, with Brent trading at above $67 per barrel and WTI, the U.S. benchmark, at above $63 a barrel.<\/p>\n<p>Global crude oil exports continue to hold strong and above the latest ten-year seasonal average, energy trade flow analysts Vortexa said this week.<\/p>\n<p>Demand, however, <a href=\"https:\/\/oilprice.com\/Energy\/Crude-Oil\/The-Feared-Global-Oil-Glut-Is-Not-Here-Yet.html\" rel=\"nofollow noopener\" target=\"_blank\">is also holding strong<\/a> this summer, absorbing an increase in South American supply led by Brazil and Guyana, and production hikes in the Middle East as OPEC+ continues to ease output cuts.<\/p>\n<p>\u201cDespite fears that the swift unwinding of production cuts from the eight core OPEC+ members, and subsequent increased exports mainly from Saudi Arabia and the UAE could push crude markets into oversupply, this has not concretely materialised as of yet,\u201d Mark Toth, an analyst at Vortexa, wrote this week in an\u00a0<a href=\"https:\/\/www.vortexa.com\/insights\/global-crude-strong-oversupply-fears\" rel=\"nofollow noopener\" target=\"_blank\">analysis<\/a>\u00a0on global crude shipments.<\/p>\n<p>But analysts have started to notice\u00a0<a href=\"https:\/\/oilprice.com\/Energy\/Oil-Prices\/Oil-Price-Structure-Flashes-Fears-of-Oversupply.html\" rel=\"nofollow noopener\" target=\"_blank\">narrowing backwardation<\/a>\u00a0in the market\u2014a signal that traders believe supply would be plentiful as soon as peak summer travel season ends.<\/p>\n<p>By Tsvetana Paraskova for Oilprice.com<\/p>\n<p><strong>More Top Reads From Oilprice.com<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Brent Crude oil prices are set to stay in the near term at the upper end of the&hellip;\n","protected":false},"author":2,"featured_media":18729,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[175],"tags":[16522,13147,79,18,16524,16523,19,17,188,16520,13583,16521,13149,13647,8437],"class_list":{"0":"post-18728","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-backwardation","9":"tag-brent-crude","10":"tag-business","11":"tag-eire","12":"tag-energy-markets","13":"tag-global-exports","14":"tag-ie","15":"tag-ireland","16":"tag-markets","17":"tag-oil-demand","18":"tag-oil-prices","19":"tag-oil-supply","20":"tag-opec","21":"tag-south-america","22":"tag-ubs"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/18728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=18728"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/18728\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/18729"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=18728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=18728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=18728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}