📢 CURRENT OIL (OIL) OVERVIEW 🛢️
The oil market is undergoing a tactical rebalancing in which the partial easing of the risk premium in the Middle East has enabled a correction toward the $87 per barrel area in Brent. Although uncertainty about demand and high interest rates impose resistance in the $89.50 – $92.00 range, the underlying structure of backwardation and the low levels of commercial inventories prevent a deep market crash.
#oil #BrentOil #WTIoil #PetroleoVenezuela #OilMarket $CL $BZ
The oil market is undergoing a tactical rebalancing in which the partial easing of the risk premium in the Middle East has enabled a correction toward the $87 per barrel area in Brent. Although uncertainty about demand and high interest rates impose resistance in the $89.50 – $92.00 range, the underlying structure of backwardation and the low levels of commercial inventories prevent a deep market crash.
#oil #BrentOil #WTIoil #PetroleoVenezuela #OilMarket $CL $BZ
