Oil prices have climbed recently as demand concerns have faded while the geopolitical risk premium returned amid a potential Israel-Lebanon clash.
Oil prices are set to post an impressive gain this month as bullish sentiment has been building and demand concerns fading.- As Brent futures have moved above $85 per barrel again, geopolitics have started to come to the forefront of market concerns as Houthi militias are intensifying strikes on commercial tankers and Israel-Lebanon tensions fly high. - Oil prices remain in expansionary mode as Brent remains above the 50-day average of $83.
A shortage of skilled labor has been weighing on LNG developers as strong wage growth in the US Gulf Coast has already led to some delays, with labor costs rising more than 20% since 2021 and contractors often paying skilled workers additional per diems to retain them.
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