Commodities
Oil Prices Surge Amid Tightening Supplies and Rising Forecasts
Oil prices continued to move higher on Monday, with Brent crude reaching $93.18 per barrel and WTI crude at $85.47 per barrel.
Morgan Stanley raised its Brent crude price forecast to $100, citing a tightening supply scenario.
The market's initial reaction to the recent downturn was interpreted as a retreat in risk appetite, but analysts believe that the core driver of WTI price movements lies in the weakening of the forward curve.