Brent crude oil has fallen nearly 16% this week, following an 8.7% single-session decline, marking its steepest weekly drop since April 2020. The downturn reflects the normalization of shipments through the Gulf and the resulting reduction in geopolitical risk premiums. UBS says depleted global oil inventories could provide a price floor, a view supported by declining U.S. commercial crude inventories. Observers will need to monitor geopolitical developments in the Middle East, forthcoming U.S. inventory data, and possible actions by OPEC and U.S. energy authorities.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
