Some encouraging talk from NAB re Brent Crude prices
National Australia Bank on the oil and petrol price:
"On balance, our central case forecast is for Brent to rise to $US112/bbl in the June quarter before declining. Our central case for WTI is for a lower peak of $US104/bbl in the June quarter, with underlying growth from the December quarter 2015 as the WTI-Brent spread declines in line with higher US exports. These estimates are based on a minimal supply disruption in Iraq.
"We forecast that petrol prices will fall to $1.49/litre in the June quarter and $1.48/litre in the September quarter before climbing in the December quarter and continuing to climb in 2015 as the AUD declines against the USD."
Brent Crude Prices
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