Bank of America bullish crude oil over the next month

Bank of America are bullish crude over the next month futures contract roll:

• overweight Brent, gasoline, gasoil over a one-month horizon

Cite OPEC withholding output

• acknowledge mile surplus in global supply
• the risk os US hard landing has receded
• still concerns over Chinese demand

Over 3 – 6 months BoA see

• weakening of global institutions (an upside risk for gold and previous metals)
• Fed rate cuts
• potential Middle East escalation
• aggressive fiscal and monetary stimulus in China

This article was written by Eamonn Sheridan at www.forexlive.com.