Brent Oil Continues to Advance on Persisting Uncertainty in the Middle East - ActionForex
4 Articles
4 Articles
The escalation of geopolitical tensions is pushing the price of oil up again. Donald Trump's new economic sanctions against Tehran's allies have raised international rates to record levels for the past three weeks, fuelling uncertainty about global deliveries.
Brent Oil Continues to Advance on Persisting Uncertainty in the Middle East - ActionForex
Brent oil price continues to trend higher and holds near one-month high on Friday, on track for the second consecutive strong weekly gain (up almost 6% for the week). Growing uncertainty in the Middle East, where the US tries to impose the toughest sanctions on Iranian oil export, while Iran keeps Hormuz strait closed and […] The post Brent Oil Continues to Advance on Persisting Uncertainty in the Middle East appeared first on ActionForex.
The lack of concrete progress towards an agreement between the United States and Iran keeps uncertainty high, while the disruption of flows through the Strait of Ormuz continues to create pressure on the global supply of crude oil.
After the sharp increases this week, the impact should be felt again in fuel prices.
Coverage Details
Bias Distribution
- 100% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
