Despite the pick-up in economic activity around the globe after lockdowns triggered by the Covid-19 pandemic, Brent crude oil prices are likely to remain range-bound between $35 – 40 per barrel till the third quarter of the current calendar year 2021 (CY21), but move up to $45 – 50/barrel in the second half of CY21, suggests a note by S&P Global Platts. West Texas Intermediate (WTI) crude prices, on the other hand, are likely to hover between $40 – 45/barrel by then. Currently, Brent prices are hovering around the $42/barrel mark.
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