The survey of 31 economists and analysts predicted that Brent crude would average $74.33 per barrel in 2025, down from a forecast of $74.53 in November, marking an eighth straight downward revision.
Brent crude futures rose 22 cents, or 0.3 percent, to $73.80 a barrel by 0450 GMT
Falls were limited, however, by concerns of supply disruptions in the event of more US sanctions on major suppliers Russia and Iran
Earlier this week, Yellen said softness in the oil market presents an opportunity for more sanctions
Bitcoin climbed to an all-time high as Donald Trump's victory in the US presidential election along with pro-crypto candidates being voted to Congress spurred expectations of a light-handed regulatory environment.
Oil prices fell as much as five percent in early trade before paring some of their losses
Brent crude futures rose 8 cents, or 0.11 percent, to $73.14 a barrel by 0120 GMT
Brent crude futures fell $1.39, or 1.87 percent, to $73.06 a barrel. US West Texas Intermediate crude settled at$69.22 a barrel, down $1.45 or 2.05 percent
NBR also exempted VAT at production and trading of the highly import-based edible oil
The survey of 31 economists and analysts predicted that Brent crude would average $74.33 per barrel in 2025, down from a forecast of $74.53 in November, marking an eighth straight downward revision.
Brent crude futures rose 22 cents, or 0.3 percent, to $73.80 a barrel by 0450 GMT
Falls were limited, however, by concerns of supply disruptions in the event of more US sanctions on major suppliers Russia and Iran
Earlier this week, Yellen said softness in the oil market presents an opportunity for more sanctions
Bitcoin climbed to an all-time high as Donald Trump's victory in the US presidential election along with pro-crypto candidates being voted to Congress spurred expectations of a light-handed regulatory environment.
Oil prices fell as much as five percent in early trade before paring some of their losses
Brent crude futures rose 8 cents, or 0.11 percent, to $73.14 a barrel by 0120 GMT
Brent crude futures fell $1.39, or 1.87 percent, to $73.06 a barrel. US West Texas Intermediate crude settled at$69.22 a barrel, down $1.45 or 2.05 percent
NBR also exempted VAT at production and trading of the highly import-based edible oil
Both main oil contracts dropped around three percent in early exchanges, after the Washington Post reported that Netanyahu had pledged to target Iran's military rather than its crude and nuclear sector
