Morgan Stanley Lifts Q3 Brent Crude Oil Forecast on Geopolitical Risk

Morgan Stanley raised its Brent crude oil price forecast for the third quarter of this year by $4 per barrel to $94. Reuters
Morgan Stanley raised its Brent crude oil price forecast for the third quarter of this year by $4 per barrel to $94. Reuters
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Morgan Stanley Lifts Q3 Brent Crude Oil Forecast on Geopolitical Risk

Morgan Stanley raised its Brent crude oil price forecast for the third quarter of this year by $4 per barrel to $94. Reuters
Morgan Stanley raised its Brent crude oil price forecast for the third quarter of this year by $4 per barrel to $94. Reuters

Morgan Stanley has raised its Brent crude oil price forecast for the third quarter of this year by $4 per barrel to $94, citing geopolitical risks.
"That the degree of geopolitical risk in key oil producing regions has increased recently seems clear and uncontroversial," the bank said in a note dated Monday.
OPEC+, a group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, last week kept its oil supply policy unchanged and pressed some countries to increase compliance with output cuts.
According to Reuters, Morgan Stanley said that with OPEC supply restraints, some downside to Russia production, and a seasonal upswing in demand ahead, it expects tightness in the second and third quarters.
Ukrainian strikes on Russian refineries may have disrupted more than 15% of Russian capacity, a NATO official said earlier this month.



GACA Authorizes ITA Airlines to Operate Regular Flights Between Saudi Arabia and Italy

GACA Authorizes ITA Airlines to Operate Regular Flights Between Saudi Arabia and Italy
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GACA Authorizes ITA Airlines to Operate Regular Flights Between Saudi Arabia and Italy

GACA Authorizes ITA Airlines to Operate Regular Flights Between Saudi Arabia and Italy

Saudi Arabia’s General Authority of Civil Aviation (GACA) announced on Tuesday that Italian Airlines (ITA) will begin regular passenger flights between the Kingdom and Italy.

The flights will operate from Rome to Riyadh during the summer season of 2024, with five flights per week starting from June 2.

This initiative is part of GACA's efforts to improve air connectivity and link the Kingdom to the global network, which aligns with the objectives of Saudi Vision 2030.

The goal is not just to establish the Kingdom as a global logistics hub, but also to open up a world of travel opportunities, expanding horizons in alignment with the National Aviation Strategy.