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Benzinga
Benzinga
Business
Namrata Sen

Morgan Stanley Cuts Oil Price Forecast As Strait Of Hormuz Traffic Rebounds Faster Than Expected

Morgan Stanley Oil Hormuz Strait of Hormuz Strait Donald Trump the Strait of Hormuz
The,Strait,Of,Hormuz,Pinned,On,A,Map,,April,14,

Morgan Stanley (NYSE:MS) lowered its oil price forecasts for this year and next after noting that oil tankers are moving through the Strait of Hormuz faster than expected.

A team of Morgan Stanley strategists led by Martijn Rats lowered its fourth-quarter Brent crude forecast to $75 per barrel from $80 and cut its end-2027 target to $70 from $80, MarketWatch reported on Tuesday, citing the bank’s latest client note.

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