With crude prices under pressure from growing fears of a global recession while supply-side threats hang over the market, the near-term price forecasts for the key commodity have become increasingly hedged as analysts second guess After hitting a 10-week high at more than $125/b in mid-June, Brent crude futures have ceded ground in volatile trading as concerns over a global economic slowdown trumped the impact of Western sanctions on Russian oil supplies. Global markets steadied early July 6 a day after the euro dropped to a two-decade low against the dollar and Brent crude futures slumped almost 10% to trade at their closest to $100/b since April 26. The rout was the third-largest absolute price drop since Brent futures trading started in 1988. At 1030 GMT, the ICE Brent September contract stood at $103.72/b, up 95 cents/b on the previous day’s close of $102.77/b. Physical Dated Brent was assessed […]