<article><p>French bank Societe Generale has increased its Brent and WTI price forecasts for the third quarter of this year, and expects a rangebound market into next year.</p><p>Societe Generale expects Ice Brent to average $65/bl in the third quarter of 2015, an increase of $5/bl on its previous forecast. Nymex WTI is forecast at an average $60/bl in the third quarter, an increase of $5/bl on the bank's prior expectation. Societe Generale has also increased its forecast for WTI in the fourth quarter, by $1/bl to to $60/bl.</p><p>The bank said the global oil market is beginning to anticipate the next phase of a rebalancing. US supply has hit a plateau in the last three months, with declines expected soon, and this has helped to set a floor for crude prices. Further ahead, the bank expects increasing US supply to exert fresh downward pressure on prices, which will help establish a price ceiling.</p><p>bw/ts</p><p><br> Send comments to <a href="mailto:feedback@argusmedia.com" target="_parent"> feedback@argusmedia.com </a></p><p><u><a href="http://www.argusmedia.com/Info/General/News" target="_TOP"> Request more information </a></u> about Argus' energy and commodity news, data and analysis services. </p><p><i> Copyright © 2015 Argus Media Ltd - <a href="http://www.argusmedia.com/" target="_TOP"> www.argusmedia.com </a> - All rights reserved. </i></p></article>