Bullish Momentum Is Building For Crude ...Middle East

OILPRICE - Economy
Bullish Momentum Is Building For Crude
source : OILPRICE ( Middle East ) () 18
Crude oil prices are set to post a sixth straight week of gains on the back of a tighter market and easing recession fears. Friday, August 04, 2023The coordinated supply-side management of Saudi Arabia and Russia has set oil prices for a sixth weekly gain, with the two OPEC+ heavyweights extending their production and export cuts into September. Brent has moved above $85 per barrel, the highest level since March, and one could argue there is still further upside coming from Friday’s attack on Russia’s Black Sea oil terminals and…

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