Android app on Google Play

BofA Cuts Crude Oil Forecasts for 2H'12, 2013 (USO)

June 6, 2012 8:11 AM EDT Send to a Friend
Get Alerts USO Hot Sheet
Price: $34.94 -0.2%

Rating Summary:
    0 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 9 | New: 42
Trade USO Now!
Join SI Premium – FREE
Analysts at BofA Merrill have reduced the firm's second-half 2012 price forecast for Brent Oil to $106 per barrel and the West Texas Intermediate to $97 per barrel.

The firm's 2013 forecasts were reduced to $110 for Brent and to $100 for WTI crude.

Brent crude last traded just over $100 per barrel, while WTI crude on the NYMEX is trading up to over $85 per barrel.

The US Oil Fund ETF (NYSE: USO) closed Tuesday's session at $31.76 and is indicated slightly higher to around $32 in pre-open action Wednesday.

You May Also Be Interested In

Related Categories

Analyst Comments, Commodities

Related Entities

Bank of America, Crude Oil

Add Your Comment