Barclays: Oil Prices To Drop This Quarter

The combination of bullish indicators that boosted oil prices
last month are unlikely to last, and the price of oil in the third
quarter is expected to drop from current levels, Barclays said in a
recent research note. “Prices have moved higher, due to a perfect
combination of a favorable macro environment, a seasonal uptick in
consumption, continued inventory drawdowns, and geopolitical
unrest,” according to Barclays’ note, as quoted by CNBC. However,
the bank noted that “Certain factors that supported prices in July
are…

The combination of bullish indicators that boosted oil prices
last month are unlikely to last, and the price of oil in the third
quarter is expected to drop from current levels, Barclays said in a
recent research note. “Prices have moved higher, due to a perfect
combination of a favorable macro environment, a seasonal uptick in
consumption, continued inventory drawdowns, and geopolitical
unrest,” according to Barclays’ note, as quoted by CNBC. However,
the bank noted that “Certain factors that supported prices in July
are…