Oil prices continued to rally on Friday morning, with Brent breaking above the $91 per barrel mark on the back of rising geopolitical risk.
Oil prices rallied this week as geopolitical risk and supply issues added to bullish sentiment, although concern that the Fed might not cut interest rates this year could counter that sentiment.Friday, April 5th 2024Aided by a whirlwind of bullish news, Brent prices surpassed the $90 per barrel threshold and surged past the $91 per barrel mark on Friday morning.
UK-based oil major Shell LONSHEL asked the US government for a long-term license before it takes an FID on the 4.2 TCf Dragon offshore gas field in Venezuela, with the current White House waiver running out in October 2025.Mexico Goes on an Oil Export Cancellation Spree.
WTI Crude Oil Oil Prices Geopolitics Interest Rates Fed
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