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ANALYSTS CUT OIL PRICE FORECASTS
Major banks are lowering oil price forecasts as tensions ease and shipping through the Strait of Hormuz normalizes. JPMorgan now expects Brent crude to average $80 a barrel in Q4 and $64 next year, citing weaker demand. Capital Economics and Wood Mackenzie also turned more cautious, while Goldman Sachs remains the most bullish, forecasting $85 Brent this year.
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