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Brent crude oil prices to touch $120/bbl by Dec: BofAML

Posted on 02 October 2012

Brent crude oil prices could climb to $120/bbl by December 2012 on stimulus measures and supply outages in key regions, according to Bank of America-Merrill Lynch. The outpouring of central bank liquidity should provide a boost to depressed global business confidence.
“Monetary easing will likely translate into rising capital flows to emerging markets (Ems), creating upside pressure on EM currencies and in turn EM demand for real assets, including oil. On the back of the improved momentum in the global economy and a tight supply side for oil, BofAML has raised its average 4Q2012 forecasts for Brent curde to $114/bbl from $108/bbl………………………………………..Full Article: Source


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