Morgan Asset Strategist Predicts Oil Prices to Plunge to $70 per Barrel, Bullish for Equities

According to Bloomberg, Karen Ward, chief market strategist for EMEA at Morgan Asset Management, predicts oil prices will plunge to $70 per barrel in coming weeks, driven by the unfreezing of Iranian assets and weakened OPEC cohesion increasing global oil supply. Ward stated such a price decline would provide "massive tailwinds" to equity markets by restoring breadth lost during earlier Iran war-related disruptions and potentially prompting central banks to cut rates.
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