Brent crude is expected to trade in a softer range of $70-$85 a barrel in 2H, assuming the U.S.-Iran interim agreement holds, the Strait of Hormuz continues to remain open and no major conflict resumes, Public Investment Bank analyst Khairul Fahmi says in a note. He doesn't expect prices to return to prewar lows, as tanker traffic is normalizing gradually, some energy facilities still require repairs and inventories need to be rebuilt after recent drawdowns. Public IB maintains its overweight rating on Malaysia's oil and gas sector, pegging Hibiscus Petroleum and Dialog as its top picks. (yingxian.wong@wsj.com)
Dow Jones Newswires
Brent Crude Could Trade Lower in 2H — Market Talk
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Brent crude is expected to trade in a softer range of $70-$85 a barrel in 2H, assuming the U.S.-Iran interim agreement holds, the Strait of Hormuz continues to remain open and no major conflict resumes, Public Investment Bank analyst Khairul Fahmi says in a note. He doesn't expect prices to return…