• Forex
  • Investments
  • Loyalty program
  • Promotions
  • Analysis
  • Getting started
  • About us

Brent oil tossed about by supply-demand uncertainty

US supply disruptions are helping oil futures chart a course towards a weekly gain, with the further moderation in the US dollar easing downward pressures on the commodity.

While Brent has resurfaced above its 200-day simple moving average, the global oil benchmark is still adhering to the downtrend that began in June.

Brent oil tossed about by supply-demand uncertainty

The contrasting tones set respectively by OPEC and the IEA in their latest demand outlooks only lay bare the uncertainty facing oil markets.

Over the immediate term, whether oil can keep its head above the 200-day moving average could well depend on whether markets pay greater heed to recession fears or supply-side risks.

 

Share

Latest reviews

There's a better website for you

A new exciting website with services that better suit your location has recently launched!

Sign up here to collect your 30% Welcome Bonus.