Wall Street Banks Raise Oil Price Forecasts as Supply Fears Deepen

Brent Crude oil prices are set to end the year at about $105 per barrel, bank ANZ said on Friday as it hiked its projection by $10 a barrel on the assumption that Middle East oil exports, shipping availability, and fuel supplies will remain constrained through December. “The forecast does not require another geopolitical shock,” ANZ’s strategists wrote in a note carried by Bloomberg. “Rather, it assumes that the constraints already confronting Middle Eastern exports, shipping and refined-product markets persist through…