[Outlook-in-Five] Oil Prices Surge

Oil prices have reversed higher since June and are now at their highest levels in 2023. In our latest podcast, Eli Lee, our Head of Investment Strategy, reviews the outlook for oil, and how this could impact investors. Tune in to find out more. Crude oil prices have broken out to their highest levels in 2023, and could rise towards USD100/bbl in the near term before some consolidation in 2024. Energy credit and equity sectors to remain supported although we stay watchful of impact of growth risks ahead. We maintain a neutral stance on the energy equity sector. Rising energy prices in a subdued growth environment tend to exert stagflationary pressures; this complicates central banks’ inflation fight and, if overly extended, could pose uncertainties for markets.