- The forecast for oil remains bullish on Wall Street
- Goldman Sachs raised its Brent price forecast for 3Q22 to $140/Bbl, and raised its WTI forecast to $137/Bbl for the same period
- Morgan Stanley added that it sees upside to its bull case estimate of $150/Bbl for 3Q22
- “With supply being this tight, prices will likely need to go higher in order to kill demand and balance the market,” said Ole Hansen at Saxo Bank A/S
- Beijing has seen no new cases of COVID outside of quarantine in the last four days
- The city reported two new cases, down from six on Sunday and the lowest level since April 22nd
- Beijing began lifting virus restrictions Tuesday, including resuming public transportation in most areas, allowing workers to return to work
- China's easing of travel restrictions is likely to boost oil demand in the coming weeks