Geopolitical tensions fuel Brent’s positive start to 2024
Brent is set to be kept rangebound between $70 and the low-$80s. Although rising geopolitical tensions are feeding into supply-side fears, which have helped support oil prices, its near-term gains are set to remain limited by the darkening global demand outlook.
Oil benchmarks have been lifted to their highest levels since November 2023, thanks to the IEA’s bullish forecast and the drawdown in US stockpiles....
Brent
Oil
US crude inventories
Federal Reserve
China
Brent is set to be kept rangebound between $70 and the low-$80s. Although rising geopolitical tensions are feeding into supply-side fears, which have ...
Brent
Oil
US crude inventories
geopolitical risks
Middle East
Following a large increase in US crude stockpiles, WTI-daily has fallen below the 200-SMA at 77.954....
WTI
Crude
US crude inventories
Oil
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