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UBS raised its December oil price forecast by $5 a barrel, citing continued inventory declines and escalating attacks in the Strait of Hormuz. It now sees Brent at $100 a barrel by year-end and WTI at $96.
U.S. benchmark crude edged lower after the EIA reported a 3.2 million-barrel withdrawal in commercial crude oil stocks last week. Gasoline inventories rose 382,000 barrels and distillate stocks fell 42,000 barrels.
Southwest Airlines is launching a plugin in ChatGPT that lets users discover and shop for flights through OpenAI's chatbot. The carrier says the move is designed to surface its flights earlier as travel booking shifts toward chatbots.
UBS lifted its December oil price forecast by $5 a barrel, citing lower inventories and escalating attacks in the Strait of Hormuz; it now expects Brent to reach $100 by year-end.
UBS raised its December oil price forecasts by $5/bbl and expects Brent at $100/bbl and WTI at $96/bbl by year-end, saying drawdowns in emergency inventories could leave the market more vulnerable. The bank says strategic reserve releases should help contain near-term spikes, but if geopolitical tensions stay elevated