ENERGY $30 oil could come back later this year

At least that’s the warning from Morgan Stanley, which argues crude oil prices could spiral downward later this year to as low as $30 a barrel.

It’s a counterintuitive warning, given that oil prices have actually soared by nearly 100% since mid-February. But Morgan Stanley points out that the huge rally has been driven largely by unexpected supply outages in Nigeria, Canada and elsewhere, all of which won’t last forever.

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