UBS cuts its forecast for cloth oil prices in the second half of the year to US$80 per barrel

On July 2, UBS lowered its Brent crude oil price forecast for the third and fourth quarters to US$80 per barrel, and lowered its 2027 Brent crude oil average price forecast to US$75 per barrel. The recent signing of a memorandum of understanding between the United States and Iran and the increase in oil flows in the Strait of Hormuz have prompted the bank to lower its recent oil price forecast.