In a Bloomberg report, Morgan Stanley said that continued appreciation of the U.S. dollar could push Brent oil prices to as low as $20 a barrel.
Bloomberg noted that Brent crude declined in 2015 for the third-straight year and has already lost 11% so far in the New Year.
Brent crude closed at $33.55 a barrel on the ICE Futures Europe Exchange on Friday, Bloomberg said while noting that is the lowest it has settled since June of 2004.
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