{"id":5781,"date":"2025-04-09T12:37:16","date_gmt":"2025-04-09T12:37:16","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/5781\/"},"modified":"2025-04-09T12:37:16","modified_gmt":"2025-04-09T12:37:16","slug":"live-oil-prices-continue-to-fall","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/5781\/","title":{"rendered":"LIVE: Oil Prices Continue to Fall"},"content":{"rendered":"

As bearish sentiment builds in oil markets, major banks are slashing their price forecasts for both Brent and WTI, citing mounting recession risks, the U.S. tariff shockwave, and a surprise uptick in OPEC+ supply.<\/p>\n

Goldman Sachs <\/strong>led the downgrades<\/a>, issuing its second cut in days. The bank now sees Brent averaging $58 and WTI at $55 in 2026, down $4 per barrel from its prior estimate, and well below earlier projections of $62 and $59, respectively. It follows a 5.5% cut to its 2025 Brent forecast on Friday and a sharply reduced view on demand, now pegged at just 300,000 bpd growth for 2024\u2014half its earlier outlook.<\/p>\n

Goldman also hiked its U.S. recession odds to 45%, warning of a “sharp tightening in financial conditions” and policy uncertainty that is likely to curb capital spending. The firm hinted that a reversal of tariffs could lift prices above current forecasts, but for now, it\u2019s preparing for prolonged weakness.<\/p>\n

Citi <\/strong>dropped its near-term Brent forecast to $60 per barrel<\/a> for the next three months, pointing to a $10 drop in prices since the tariff announcement. The bank is cautious on any short-term rally, advising investors to sell into strength unless a major shift in U.S. policy\u2014or a dramatic supply response\u2014materializes.<\/p>\n

Morgan Stanley<\/strong> followed suit, cutting its Brent outlook for Q2 to $65 per barrel, down from $70. It now expects Brent to hover around $62.50 through the second half of the year.<\/p>\n

This wave of forecast downgrades builds on market instability that had already taken hold before today. ING<\/strong> commodity analysts previously flagged the OPEC+ decision to increase output as a key factor driving recent oil price moves. According to ING, the shift was motivated by three pressures: U.S. sanctions on Venezuela and Iran, Washington\u2019s push for lower prices, and a desire within OPEC+ to discipline overproducers like Iraq and Kazakhstan.<\/p>\n","protected":false},"excerpt":{"rendered":"As bearish sentiment builds in oil markets, major banks are slashing their price forecasts for both Brent and…\n","protected":false},"author":2,"featured_media":5782,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[51,3057,3055,3058,2664,2662,3059,3056,1219,554,16,15,3054],"class_list":{"0":"post-5781","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-energy-markets","10":"tag-global-economy","11":"tag-international-trade","12":"tag-oil-demand","13":"tag-oil-prices","14":"tag-protectionist-measures","15":"tag-recession-fears","16":"tag-trade-war","17":"tag-trump-tariffs","18":"tag-uk","19":"tag-united-kingdom","20":"tag-wti-crude"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114308044751123754","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/5781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=5781"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/5781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/5782"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=5781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=5781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=5781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}