Oil Watchers See $70 a Barrel in 2019 as Recession Fears Fade

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The world’s biggest banks are reckoning on a rebound in oil prices next year as fears of a recession prove misplaced.

The Brent benchmark will average $70 a barrel in 2019, almost a third higher than its price on Thursday, according to a Bloomberg survey of oil analysts. Futures in London and New York plunged this quarter, with volatility soaring in its final week as crude tracked gyrations in equity markets.

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