Brent could touch $80 as economic recovery picks up: Emkay Wealth

The rise, however, could be capped if the dollar strengthens against major currencies

Brent crude gained for a fifth day on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in US crude inventories. A study by Emkay Wealth Management shows that Brent crude may test even higher levels of $78-80 per barrel but this rise may be capped if the dollar strengthens against major currencies.

At 7 pm IST, Brent was trading at $74.18 a barrel, up 0.26 per cent, while WTI crude was at $72.09 a barrel, down 0.04 per cent.

Emkay said the recovery in