Morgan Stanley Hikes Its Summer Oil Price Forecast to $94

Morgan Stanley sees heightened geopolitical risk pushing Brent Crude oil prices to $94 per barrel in the third quarter as the bank lifted its price forecast by $4 a barrel from its previous projection. “That the degree of geopolitical risk in key oil producing regions has increased recently seems clear and uncontroversial,” Morgan Stanley analysts wrote in a note cited by Reuters. Last month, the bank had already hiked its third-quarter oil price forecast by $10 per barrel, to $90, on the back of expected tighter markets in…