Oil Price Forecast This Week: Brent’s 6% Slide Leaves Traders Staring at $120 Risk
Brent crude settled at $101.29 a barrel Friday, with WTI at $95.42, both down over 6% for the week. China’s April crude imports fell 20% after the Strait of Hormuz closure. OPEC+ raised June output quotas by 188,000 barrels per day, but analysts say supply remains tight. Citi and the EIA kept high near-term price forecasts, citing uncertainty over Middle East conflict duration.