UBS Lowers Brent Oil Price Forecast to $80 per Barrel for Second Half of Year
On July 2, UBS reduced its price forecast for Brent crude oil in the third and fourth quarters to $80 per barrel and lowered its average Brent crude oil price forecast for 2027 to $75 per barrel. The recent signing of a memorandum of understanding between the United States and Iran, along with an increase in oil flow through the Strait of Hormuz, prompted the bank to adjust its near-term oil price forecasts.
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According to Bloomberg, CoreWeave is seeking to refinance at least 4 billion USD through an investment-grade loan, led by Morgan Stanley and Mitsubishi UFJ, with a syndication roadshow expected to start as soon as next week. This financing continues the structure of using Nvidia chips and customer contracts as collateral, with the yield on the issuance anticipated to be around 7% to 7.5%, much lower than its junk bond yield. Following the news, CoreWeave's shares fell nearly 5.8% after hours.
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