OIL
Brent oil prices edged higher in early Friday trading, continuing a rally that has driven prices up by over 10% in recent sessions. The increase is fuelled by fears of supply disruptions as the escalating conflict between Israel and Iran threatens to destabilise the broader Middle East—an essential hub for global oil exports. Traders are increasingly concerned about the potential supply shock, pushing prices higher. However, the upside remains constrained. Expectations of increased production from December by several OPEC+ countries, led by Saudi Arabia, combined with ongoing concerns about weak demand—particularly in China—are contributing to an outlook of abundant supply, which helps to balance the upward price pressures.
Ricardo Evangelista – Senior Analyst, ActivTrades
Source: ActivTrader
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