{"id":504658,"date":"2022-07-11T12:59:24","date_gmt":"2022-07-11T07:29:24","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=504658"},"modified":"2022-07-11T12:59:24","modified_gmt":"2022-07-11T07:29:24","slug":"brent-crude-may-hover-around-104-bbl-this-year-jpmorgan","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/brent-crude-may-hover-around-104-bbl-this-year-jpmorgan\/","title":{"rendered":"Brent crude may hover around $104\/bbl this year: JPMorgan"},"content":{"rendered":"<p>Brent crude may hover around the current level of $104 a barrel for the remaining part of the current year, but may fall to $98 per barrel next year, investment bank JPMorgan said on Friday. \u201cUnder scenarios where supply is constrained, we think oil could rally to $190\/380 per barrel as well,\u201d Sanjay Mookim, strategist and head of India equity research, JP Morgan, told FE.<\/p>\n<p>International benchmark brent crude price fell below $100 a barrel on July 6 for the first time since April 25 on fears of a potential global recession. At 18:00 hrs (IST) on Friday, it was trading at around $105 per barrel. Brent reached to around $140 a barrel in early March following Russia\u2019s aggression on Ukraine.<\/p>\n<p>While an elevated price will cause a significant concern for India, Mookim said an oil price shock can further hurt global demand and drive more monetary tightening. \u201cElevated oil prices will be a significant concern for India. Current account balances are likely to remain negative exerting pressure on the currency. Higher inflation will be a drag on consumption and government spending.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brent crude may hover around the current level of $104 a barrel for the remaining part of the current year, but may fall to $98 per barrel next year, investment bank JPMorgan said on Friday. \u201cUnder scenarios where supply is constrained, we think oil could rally to $190\/380 per barrel as well,\u201d Sanjay Mookim, strategist and head of India equity research, JP Morgan, told FE. International benchmark brent crude price fell below $100 a barrel on July 6 for the first time since April 25 on fears of a potential global recession. At 18:00 hrs (IST) on Friday, it was [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-504658","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/504658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=504658"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/504658\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=504658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=504658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=504658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}