Bullish20 Jul 2015 20:27
Brent was trading around $56 per barrel on Monday morning, while West Texas Intermediate (WTI) was around $50. Although this is well off lows of around $45 and $42 hit earlier this year, it is still around 50 percent lower than in June last year.
But this has not stopped some investment banks sounding a relatively bullish tone on the outlook for the rest of the year. JP Morgan, for instance, expects Brent prices to hit $65 a barrel in the third quarter, and $67 dollars in the fourth quarter of this year.