After rallying to more than $97 per barrel on Wednesday, Brent crude took a breather on Thursday as traders started to take profits and the macro-focus in the markets turned to rising interest rates. The bulls can thank a sustained fundamental tightening for helping offset concerns about a higher-for-longer rates cycle. Last week, the U.S. central bank left interest rates unchanged but bolstered its hawkish stance with a further rate increase projected by the end of the year. Higher interest rates have historically been bearish for oil…
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