Morgan Stanley' Sees Brent Oil Prices Continuing to Climb in Summer Months

In a research note early Wednesday, Morgan Stanley's Adam Longson lowered his 2013 Brent oil forecast slightly from $110/barrel to $107/barrel. Longson still sees Brent oil prices moving upward for this summer season as demand outpaces a subdued supply base. The analyst also cited enduring geopolitical risks adding a "little premium" in the marketplace for his bullish outlook. Brent crude oil, currently at $105.23/barrel, has advanced from around $100 in June.