Platts Dated Brent is expected to average $85/b in 2024 and to moderate and average around $79/b in 2025, according to the base-case forecast of S&P Global Commodity Insights.
According to Report, from the beginning of 2023 to the end of March, Platts Dated Brent averaged $83/b, the same level for 2023 as a whole.
Jim Rogers, chairman of Beeland Interests, Inc. and co-founder of the Quantum Fund, said in an exclusive interview with S&P Global Commodity Insights that wars traditionally supported commodity prices, although long-drawn conflicts could have negative repercussions.
"For instance, Ukraine and Russia produce agriculture and oil and there are supply constraints in those two countries now. The other risk of course is if there's a conflict in Asia -- Taiwan for instance. We should then be all very worried," Rogers added.
He added that there was a need to watch not just commodity investments but overall financial investments carefully and look cautiously into the future.
"The US stock market has been going up since 2009 -- that's the longest in American history without a problem. I see signs of inflation coming back and there are possibilities of interest rate increases. I also see a lot of speculation -- there are lots of new investors who are telling their friends that this is easy money. That's a worry," Rogers said.
He added that mounting debt in the global economy is a big concern now.
"When we have the next bear market, it will be very bad. The 2008 one was bad because of too much of debt. Since that time debt has skyrocketed. Even China has a lot of debt now. They did not have much debt 25 years ago," he added.
https://report.az/en/energy/s-p-announces-oil-price-forecasts-for-2024-2025/