Wall Street Majors Cut Oil Forecasts on Deal to Reopen Hormuz (opens original article in a new tab)

Morgan Stanley reduced oil-price forecasts as an interim US-Iran deal to reopen the Strait of Hormuz may increase regional oil output and supply.

• Morgan Stanley cut oil-price forecasts for coming quarters.
• Interim deal between US and Iran to reopen Strait of Hormuz may revive regional output.
• Deal could boost oil supplies and affect market prices.