Brent Crude Oil Surges Above $86, Morgan Stanley Forecasts $90; WTI Settles at $82.72, Brent at $86.89

The price of Brent crude oil rose above $86 for the first time since November 6, 2023. Morgan Stanley expects Brent to climb to $90 per barrel by summer 2024, raising its forecast by $10 per barrel. NYMEX WTI crude settled at $82.72 a barrel, while Brent settled at $86.89/bbl. US crude oil futures settled at $83.47/bbl, with Brent later settling at $87.38/bbl. WTI settled at $83.47/bbl and Brent at $87.38/bbl. Brent crude futures settled at $87.38/bbl, up 49 cents, 0.56%. WTI settled at $83.47/bbl, up 75 cents, 0.91%. Brent settled at $85.95/bbl, down $1.43, 1.64%. NYMEX WTI crude settled at $81.68 a barrel, down $1.79, 2.14%. Brent settled at $85.95/bbl, down $1.43, 1.64%. US crude oil futures settled at $81.68/bbl, down $1.79, 2.14%. NYMEX gasoline settled at $2.7332 a gallon, while diesel settled at $2.6688 a gallon.