27 Oct, 23

Oil Markets On Edge As Geopolitical Risk Rises

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Oil markets have been on edge this week, with geopolitical risk and market tightness being counterbalanced by continued economic concerns. While prices are on course for a weekly loss, they spiked sharply early on Friday morning following U.S. airstrikes on Syrian territory. Friday, October 27th, 2023Oil prices have been relatively rangebound this week, with ICE Brent trending between $88 and $90 per barrel, but the constant ebb and flow of geopolitical fears has created a seesaw pattern in day-to-day trading. US military airstrikes on Syrian territory…

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