The recent rise in Brent futures is due to temporary special factors that likely will ease in...

|By:, SA News Editor

The recent rise in Brent futures is due to temporary special factors that likely will ease in the next few months, many analysts and traders say. The oil market continues to exhibit a supply surplus, Commerzbank says, expecting Brent at $110/bbl by year’s end. But Goldman expects oil demand to grow “well in excess of production capacity growth” and forecasts Brent to reach $127.50 six months from now.