Just when it looked like oil might take another day off from its meteoric rise, Morgan Stanley had to weigh in. Morgan Stanley predicted Brent oil from the North Sea could “easily” hit $150. Even though it’s not entirely clear that this is new news, the market reacted and sent oil back to $130. Bloomberg:
“While prices are high enough to curb demand in the developed economies, we think that supply limits could easily take Brent crude quotes to $150 a barrel,” Richard Berner, co- head of global economics at Morgan Stanley, said in a report today.
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