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Brent crude has faced resistance around the 200-DMA at $76 and is now approaching crucial support levels near $68.70/68.10. Analysts suggest that if this support fails, Brent could see further declines, with next targets at $65.50/64.70 and $63. The market remains volatile, and investors are advised to conduct thorough research before making decisions.
Franco-Nevada reported a quarterly EPS of $0.95, surpassing estimates, with revenue of $321 million, up 5.8% year-over-year. The company declared a dividend increase to $0.38 per share, yielding 0.97%, and has a Moderate Buy rating from analysts, with a price target averaging $155.50. Institutional investors hold 77.06% of the stock, reflecting strong interest.
World cocoa and coffee prices have dropped following President Trump's announcement of significant tariffs on US imports, raising concerns about demand in the largest consumer market. Key coffee producers like Vietnam and Indonesia face steep tariffs, while Brazil and cocoa-producing nations also see increased costs. The tariffs are expected to create inflationary pressures in the US and complicate import processes for roasters and traders.
Goldman Sachs has revised its oil price forecasts downward, expecting Brent and WTI prices to average $69 and $66 per barrel in 2025, and $62 and $59 in 2026, respectively. This adjustment is attributed to increased OPEC+ supply, weaker demand growth, and downgraded GDP expectations, with risks skewed to the downside due to potential recession and further OPEC+ output increases. The firm no longer provides a price range due to anticipated elevated volatility.
Oil prices continued to decline in early Asian trade, heading for their worst week in months due to President Trump's new tariffs, which raised fears of a global trade war impacting oil demand. Brent futures dropped to $69.54 a barrel, while US West Texas Intermediate crude fell to $66.34. The bearish outlook was compounded by OPEC+ advancing its oil output increase plan, aiming to return 411,000 barrels per day to the market in May, which analysts believe will lead to a surplus in the oil market this year.
Goldman Sachs has cut its oil price forecasts, reducing the 2025 average for Brent crude to $69 per barrel and WTI to $66, citing OPEC+ supply increases and trade tensions. Projections for 2026 are further lowered to $62 for Brent and $59 for WTI, with anticipated oil demand now between 600,000 and 700,000 barrels per day.
Goldman Sachs has reduced its oil price forecasts, lowering Brent crude's average price for this year by 5.5% to $69 a barrel and WTI by 4.3% to $66, citing increased OPEC+ supply and recession risks from a global trade war. The firm also cut its 2026 forecasts for Brent and WTI by 9% and 6.3%, respectively, warning that further reductions may be necessary. Oil demand growth expectations have been revised down to 600,000 barrels per day for this year, down from 900,000 bpd.
Goldman Sachs has reduced its oil price forecasts, lowering Brent crude's average price for this year by 5.5% to $69 a barrel and WTI by 4.3% to $66, citing increased OPEC+ supply and recession risks from the global trade war. The firm also cut its 2026 projections for Brent and WTI by 9% and 6.3%, respectively, warning that further reductions may be necessary. Oil demand growth expectations have been revised down to 600,000 barrels per day for this year, down from 900,000 bpd.
Goldman Sachs has revised its oil price forecasts downward, now predicting Brent crude will average $69 per barrel and WTI at $66 in 2025, with further declines expected in 2026. The adjustments reflect concerns over trade tariffs and increased OPEC+ supply, with risks skewed to the downside due to global economic challenges and geopolitical uncertainties.
Barclays has revised its Brent crude oil price forecast for 2025, lowering it to $74 per barrel due to escalating global trade tensions. The bank's analysts warn that these tensions could negatively impact global economic activity and oil demand, increasing the downside risks to their price outlook.
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