Oil prices may soon climb to the $90 mark, with geopolitical uncertainty, OPEC cuts, and a weakening dollar helping to push oil prices higher.
In what feels like an increasingly bullish oil market, $90 Brent is now a real possibility. While demand uncertainty persists, geopolitical risk, a weakening U.S. dollar, and OPEC supply cuts have moved prices higher.- Long positions held by hedge funds and other money managers have seen the strongest influx of bullish interest since September 2023, indicating the market believes geopolitical pressures will keep on pushing oil prices higher.
Libya’s government watchdog has temporarily suspended oil minister Mohamed Aoun, representing the Tripoli-based Government of National Unity, for alleged legal violations, several months after he called for the removal of NOC head Bengdara.Sudan Oil Production Stuck as War Rages On.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil Prices Continue to Advance as Bullish Sentiment Takes HoldOil prices have held onto their gains from last week and were moving higher in early morning trade on Monday, a sign that bullish sentiment is back.
Read more »
Bullish Sentiment Finally Breaks Out in Oil MarketsBullish sentiment is finally seeping into oil markets, buoyed by geopolitical instability and an increasingly optimistic demand outlook.
Read more »
Oil Prices Under Pressure Despite Bullish SentimentOil prices are set to end the week flat after last week's rally, with a strong U.S. dollar, the potential of a ceasefire in Gaza, and profit taking all weighing on prices.
Read more »
Bullish Sentiment Builds After the IEA Boosts Demand OutlookBullish sentiment is building in oil markets after the IEA raised its demand forecast for the fourth time since November
Read more »
Oil Prices Under Pressure As U.S. Crude Oil Inventories ClimbCrude oil inventories in the United States rose this week by 9.337 million barrels for the week ending March 22
Read more »
Oil Industry Executives Say Oil Demand Is Beating ForecastsOil industry leaders are revising oil demand growth forecasts upwards due to stronger than expected consumption across all economies.
Read more »