July 5, 2018 / 12:55 PM / a year ago

BUZZ-Raymond James: Sees WTI prices of $68/bbl for 2018

** Raymond James expects 2018 U.S. crude prices to retreat to late June levels of ~$68/a barrel (bbl) from its current 3-1/2-yr high of $74/bbl

** WTI prices got a boost on Thursday due to potential disruptions to flows from Iran and the Middle East

** For 2019, brokerage assumes prices of ~$65.24/bbl; reaffirms long-term outlook of $65

** RJ lowers Canadian oil sands producer MEG Energy’s stock to ‘market perform’ from ‘outperform’, saying it no longer sees sufficient risk/reward

** But upgrades rival Huksy Energy to ‘outperform’ on “modest” output growth, “robust” cash flow and insulation from Western Canadian Select (WCS), among others

** In 2019, WTI prices will start at ~67/bbl and fall to ~$63 later in the year, while WCS will largely trade between a range of C$39-C$40, according to Thomson Reuters data (Reporting by John Benny)

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