News
Oil prices stabilized on Thursday after three consecutive days of increases driven by geopolitical tensions in Europe and the Middle East. Soojin Kim from Mitsubishi UFJ Financial Group (MUFG) stated that traders are weighing weak demand and oversupply against escalating geopolitical risks. She noted that the market is digesting Trump's latest comments on potential punitive measures against Russia, while the European Union vows to intensify sanctions after Russian drones entered Polish airspace. She added that despite the threat of supply disruptions, the market fundamentals are bearish, with U.S. crude oil inventories increasing by 3.9 million barrels last week, limiting the upward momentum
Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments