SCBS 18/3/2565 : FTSE Play today/FT play positive to BGRIM GPSC /GS expected 2Q'22 Brent Oil at $ 120 to 2022 avg.$ 135 from lower Russian output/Overweight Commerce Prefer CPALL CRC BJC

XD Friday 21 March 2565 KCE Bt 1.00/ SPCG Bt 0.55

Motorshow 23 March 2565 / ETF Flows Buy Clean Energy Semiconductor / SCBS expected Thai Interest rate to hike 25 bps in 4Q'2565

Ramadon season starts during 1-30 April 2565 to be low Middle East patients contribution to sensitive Hospital BH BDMS*** GS 2Q22 Brent forecast is now $120/bbl, with our 2H22-forecast remaining unchanged at $135 as the recovery in Chinese demand requires higher price induced demand destruction. Our 2023 forecast is now $110/bbl, still well above market forwards as lower Russian output will require higher shale production growth.