Oil prices have bounced lately, reports Danske Bank’s currency analyst Stefan Mellin.
The market is concerned about sanctions and related effects on the offer side
“A series of factors are promoting the market, including commercial problems, concerns about growth, pause in the massive sale of USD and new oil -related sanctions. The fact that oil prices are rising in this environment suggests that the market is more concerned about sanctions and related effects on the supply side.”
“However, we doubt that this can bring much higher oil prices, since OPEC+ has begun to increase production. Rather, clarity on global commercial policy and, preferably, less tariffs that have been announced so far could boost oil prices to another higher level.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
