JPMorgan Hikes Brent Forecast To $130 By Q3

Tyler Durden's picture

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snowball777's picture

I read the headline as "Hikes Brent Forecast To $180 By QE3"

the mad hatter's picture

Why do equities and forex brokers' recommendations get the "do the opposite" treatment on ZH while commodities recommendations get some credibility depending on the outlook?


I think GS was trying to get into commodities with the first recommendation to sell crude and now that it dropped 10 percent and the economic outlook looks a lot stormier they want out so they're recommending a buy.


slimy bastards.

SheepDog-One's picture

Consider its not JUST economic forecasts or conditions, the mid east is blowing up and Iran and Saudis likely involved soon. Imagine an oil price with an Iran/Saudi hot war? $200 very cheap then?

slaughterer's picture

What?  ZH trusts a JPM commodity forecast?  JPM is fading this move right now as they prepare to call their friends at the CME to hike crude spec margins.  Last week's rumor becomes this week's reality.

centerline's picture

Damn speculators!

TexDenim's picture

Actually, this forecast took some balls and may be correct. Last week was more of a risk off liquidation than a sea change in oil prices. The price of Brent will be very volatile and experience weeks like the last one, but for the next 12 months the supply demand dynamics do favor higher Brent prices (but WTI will lag).

Oh regional Indian's picture

ORI hikes Brent to $160 by Q3. today's dollars. 

In Q3 dollars, it will be more like $1,600. 

By Q4, oil will be a strictly rationed Strategic War Reserve.

Say goodbye to Oillywood, say good bye my de-formed baybee.


Oh regional Indian's picture

You think it'll make it that far Seg? Somewhere the can is going to become too heavy to kick.

I see Bond Bomb Blow definitely by end of Q3. If not before. 


The Real McCoy's picture

I think 'strengthening' (or correcting) USD is going to put downward pressure on crude in the short term.

Josh Randall's picture

Go-Go Juice to the moon, Baby 

Math Man's picture

My forecast is unchanged at $90.


TruthInSunshine's picture


(Bang the f**king Dae-Ho)

RobotTrader's picture

Meanwhile, gold stocks continue to crash and the PM shorts and "Ratio Traders" are making vast fortunes.

firstdivision's picture

Yet physical is up.  Smells like time buy some PHYS and PSLV

SheepDog-One's picture

MomoFader is the only guy in america who has managed to LOSE on his PM calls over the last year.

tmosley's picture

Well, looks like I won that bet. I knew Robo couldn't go more than 12 hours without insulting his betters after suddenly doing a 180 and recommending silver to his pals.

bobby02's picture

Slightly off topic but what was that $34.43 print in SLV at 12:54?

SheepDog-One's picture

Gold $1,505, suck it loser. 

Franken_Stein's picture


Maybe because they already know, what the rest of the world doesn't know, which is that Iran is going to be attacked soon.


All for the sake of this stupid black liquid under the sand.


Man, if you Americans would spend only half of what you spend on your private mercenary army on alternative energy, you could be independent of oil imports now.


But of course the likes of Halliburton and the Kellogg company or Blackwater/Xe can't make a private buck on that.


An army which consumes $680 bn a year has to be put to good use, has it not ?


TruthInSunshine's picture

Not that I agree or disagree that Iran is about to be attacked, but is there some credible (credible as in NOT Debka or Sorcha Faal or a tabloid, or worse yet - The New York Times, Wall Street Journal or NBC/Fox/ABC/CBS) source that you're relying on in making this projection?

Oh regional Indian's picture

Why Vergel, Iran is clearly in the cross-hairs. Why is he a tool? Curious response.


Itsalie's picture

So can someone pse explain why JP Morgue is suddenly to be trusted?

oogs66's picture

The move in oil reminded me a lot of the move in yen post intervention.  After the big intervention, the yen weakened, longs got squeezed out, etc, but after the initial wave was done, it slowly ground its way back to where it had been before the intervention.  In spite of all these margin calls, etc, the price of commodities will retrace a lot of their losses, because contrary to the government's opinion that the prices were artificially high, they were real.

tecno242's picture

this confuses me.  I thought JPM and .gov were BFF's.

raising oil forecasts is obviously not playing ball with .gov right now.

pragmatic hobo's picture

"raising oil forecasts is obviously not playing ball with .gov right now"

of course it does. What do you think QE2 was all about?

SheepDog-One's picture

Calling for higher oil prices is not playing ball with .gov.-

Barrack Hussein Obama- 'My plan means oil prices and energy costs in general will neccessarily have to be far higher'

SheepDog-One's picture

People looking for reason and logic in a totaly broken and corrupt world economy...I love it.

Atomizer's picture

Quantitative Sleazing III is a go!

Franken_Stein's picture


I have a direct front row view on Blankfein's Hymietown apartment.

Twas so easy.


15 Central Park West.


Somehow he has to get from there to 200 West Street in his Lincoln Towncar / Ford Escape / Mercedes Maybach with toned windows.


Doing God's work and Winning !


Have you ever heard of Kissinger Associates ?


Boy, N.Y.C. seems to be full of these globalist psychopaths.

Kissinger is a regular guest in these Bilderberg group meetings.