Massive crude oil inventory draw supports case for higher BrentThe private survey of oil stocks is out, and its a monster draw:
The official government data is due tomorrow morning out of the US.
Oil has been well supported:
Analysts at Standard Chartered have a US$90 target, and beyond, in sight:
- From a fundamental viewpoint, we still think the rally can be sustained well past USD 90/bbl given our projected Q3 and Q4 global oil balances
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: Massive crude oil inventory draw supports case for higher Brent (https://www.forexlive.com/news/massive-crude-oil-inventory-draw-supports-case-for-higher-brent-20240702/)
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