Crude oil to remain-range bound at $56-$60, no sell-off likely in near-term

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Crude oil to remain-range bound at $56-$60, no sell-off likely in near-term - Business Standard

Quick Summary:

The Fed expects real GDP to moderate to 2.1 per cent in 2025 (2024: 2.5 per cent) and to 2.0 per cent in 2026.

But these policies cannot fully offset the negative impacts of the tariff shock on China’s economy, as we expect China’s GDP to grow at 4 per cent for 2025.and 0.2 percentage points in 2025.

Medium range would also depend on the expected trade deal of US-China and expectation of Chinese stimulus which is expected in H2-2025 but we do not expect WTI breach resistance of $65 in medium term and hold strong support around $52. (Disclaimer: Mohammed Imran is a research analyst at Mirae Asset Sharekhan.