02 Nov, 23

Standard Chartered: $98 Oil Is Well Supported By Fundamentals

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Oil prices have been a rollercoaster over the past couple of months as negative catalysts frequently outshine the positive ones and vice-versa. In recent times, fears of a spillover in the conflict between Israel and Hamas, which could embroil Iran and its allies in the region, have offered considerable support to oil prices. Unfortunately for the bulls, the oil price momentum has fizzled out with the risk premium that jumped in recent days following Israel’s ground incursion into Gaza proving to be less extensive than some investors…

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