Brent Crude oil prices are set to stay in the near term at the upper end of the current trading range between $60 and $70 per barrel as the market remains tight during the peak summer demand season, according to investment bank UBS. “We expect global oil demand to peak for the year in August and modestly decline over the coming months,” Giovanni Staunovo, an analyst at UBS, wrote in a Friday note carried by Reuters. Oil prices are expected to moderately drop toward the lower end of the $60-$70 a barrel range later this…
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