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Oil prices are back on track towards $84 on Friday, propelled by geopolitical tensions in the Red Sea. Still making headlines going into these last hours of trading before Christmas, Houthi rebels have made the Red Sea a no-go zone for all big freight
Crude Oil extends the pullback following the surprisingly dovish FOMC decision and some geopolitical premium around the Red Sea shipping. What’s next?
Oil prices have ample room to manoeuvre higher with more geopolitical tensions being added. Already earlier this week the eruption of attacks by Houthi rebels in the Red Sea sparked enough concern for all main freight operators to divert their fleet
Crude Oil continues to fall with the cycle lows around the $64 level now in sight.
Oil prices are trying to avoid another meltdown as WTI crude tries to head back to $70. Bears gained a boost on Tuesday after US Consumer Price Index numbers revealed yet again very sticky inflation.