Crude may soften to $50 per barrel by June: Report
The report said that the US Energy Information Administration estimates that Brent crude oil price will fall to an average of $55 per barrel in the first quarter of 2026, largely driven by buildup of inventory.
“Since the India basket has correlation of 0.98 with brent crude, the trends in brent suggest further softening of the Indian basket,” said the report by SBI group’s chief economic advisor Soumya Kanti Ghosh and his team.It also said that a moving average analysis for Indian crude showed that current prices are trending below the 50 and 200 period moving averages, suggesting future lower levels from current level at $62.20 per barrel.
