A plurality of investors expect benchmark Brent oil to trade

between $80 and $90 a barrel by the end of this year, according

to a BofA survey of fund managers published on Tuesday, down

from its current level just under $100.

Investor sentiment was also at its most bearish in 10

months, but few are outright expecting a recession, according to

BofA's April 2-9 survey of 193 investors with a combined $563

billion assets under management.

** Investor oil forecasts fairly spilt however, 34%

expect Brent crude futures between $80 and $90, 28% see

it at $70-$80 and 22% at $90-100. Just 6% see it above $100.

** The oil benchmark came close $120 on two occasions in

March, up from around $70 before the war.

** A net 36% of investors expect a weaker global economy; a

month ago, 7% expected a stronger economy.

** 52% see a "soft landing" as most likely outcome for the

global economy, and just 9% see a "hard landing"

** Investors are a net 13% overweight equities, the least

since July 2025, and down from 37% in March.

* 58% of investors still expect the Federal Reserve to cut

rates in the next 12 months. 46% expect the ECB to hike rates in

the next 12 months.