Brent crude seen at $50/bbl by Q3 in worst-case scenario: Credit Suisse

Credit Suisse has released a research note today that highlights the potential for oil prices to fall to levels last seen during the 2008 crisis

Oil outlook - hanging in the balance

Brent crude could fall to $50 a barrel – with West Texas Intermediate (WTI) crude plummeting to $40/bbl – by the third quarter of this year in a "worst-case scenario", writes investment bank Credit Suisse in a research note.

This would be a drop of around 49% from yesterday's Brent settelment price of $97.14/bbl and a 52% drop from yesterday's WTI settlement price of $83.32/bbl.

The bank says this scenario would entail "a collapse in trading and global activity" beginning this summer, mirroring

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