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Barclays Expects Higher Oil Prices But Slow Recovery – OilPrice.com

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Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

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Barclays

Barclays raised its oil price forecast for crude oil by $4 a barrel but noted that the price improvements will be slow.

Reuters reports the bank now expects Brent crude to average $41 a barrel this year, with West Texas Intermediate seen at $37 a barrel. Yet in the third quarter, Barclays expects Brent crude to trade at an average of $37 a barrel and WTI at $34 a barrel.

Right now, both benchmarks are trading below $40 a barrel, with Brent at $37.68 a barrel at the time of writing and WTI at $35.43 a barrel. They are both set for their first weekly decline after a tentative but extended rally. The rally, however, was not strong enough to sustain initial optimism following reports from OPEC+ balance would soon return to oil markets.

Meanwhile, another bank has warned the price rally would fizzle out soon. Earlier this month, Morgan Stanley said the price rise from recent week “appears mostly supply- rather than demand-driven, and it is questionable how strong refinery runs can increase against this backdrop.”

Despite the continuous market-fixing efforts in supply by the OPEC+ group, the world’s consumption of oil is unlikely to return to the levels before the coronavirus pandemic until late next year, according to the bank.

Other concerns about an oil price correction include U.S. shale restarting too much production as prices rise, as well as a sharp rise in oil production when OPEC and allies start unwinding the cuts, Morgan Stanley says.

Goldman Sachs is also guarded in its forecasts. In fact, the investment bank is rather bearish on oil right now. Citing uncertainty around oil demand recovery, Goldman said last week it expected Brent crude to soon slip down to $35 a barrel as expectations about a quick rebound in demand for oil turned out to have been overoptimistic.

By Irina Slav for Oilprice.com

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Several brands of frozen mangoes recalled due to the possible Hepatitis A contamination – CTV News Montreal

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MONTREAL —
The Canadian Food Inspection Agency (CFIA) announced Friday that Montreal-based Nature’s Touch Frozen Food is recalling various brands of frozen mangoes because they may be contaminated with the hepatitis A virus.

The following products should not be consumed according to the CFIA:

  • Nature’s Touch Frozen Mangoes (2 kg)
  • Compliments Frozen Mangoes (600 g)
  • Irresistible Frozen Mangoes (600 g)
  • President’s Choice Frozen Mangoes (600 g)

All products have the words “best before November 2022” written on the package.

The products were sold in Quebec, Ontario, Saskatchewan, Manitoba, New Brunswick, and Nova Scotia and may have been sold in other provinces and territories.

Hepatitis A virus infection usually manifests itself as fever, general malaise, loss of appetite, nausea, vomiting and abdominal discomfort.

The infection can also cause jaundice.

Symptoms may appear up to 50 days after consumption.

The CFIA advises people who believe they have become ill after consuming a recalled product to contact a physician.

Recalled products should be discarded or returned to the store where they were purchased.

— this report by The Canadian Press was first published in French on July 30, 2021 

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Select frozen mango products recalled due to possible Hepatitis A contamination – CP24 Toronto's Breaking News

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The Canadian Food Inspection Agency (CFIA) says select frozen mango products distributed in Ontario and several other provinces are being recalled due to possible Hepatitis A contamination.

Consumers are being warned not to eat various Nature’s Touch Frozen Food frozen mangoes, which were distributed in Manitoba, New Brunswick, Nova Scotia, Ontario, Possibly National, Quebec, Saskatchewan.

CFIA says there have been some reported illnesses associated with consumption of the products.

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Frozen mangoes recalled over Hepatitis A risk – CBC.ca

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Four types of frozen mangoes are being recalled due to the risk of possible Hepatitis A contamination, according to the Canadian Food Inspection Agency (CFIA).

The products being recalled include:

  • Frozen mangoes from Nature’s Touch
  • Mango Mania from Compliments
  • Mango chunks from Irresistibles
  • Mango chunks from President’s Choice

The affected products are all sold by Nature’s Touch Frozen Food Inc. with expiration dates of November and December 2022.

The impacted product has likely been distributed nationally, but has been sold in Manitoba, New Brunswick, Nova Scotia, Ontario, Quebec and Saskatchewan.

CFIA says the recall was sparked by a “foodborne illness outbreak” and that further recalls may be initiated.

Anyone who ate the products and is feeling ill is advised to call their doctor.

More information is available through the CFIA’s website.

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