Geopolitical Risk Underpins Oil Prices ...Middle East

OILPRICE - Economy
Geopolitical Risk Underpins Oil Prices
source : OILPRICE ( Middle East ) () 70
Geopolitical risk has pushed oil prices back up this week, but traders are likely to refocus on fundamentals as the month draws to an end and the next OPEC+ meeting looms.Friday, November 22nd, 2024Brent futures have been trading within a narrow bandwidth of $73-74 per barrel, but the return of geopolitical risk has pushed oil prices higher - recouping most of November’s losses to date. Whilst Russia’s launch of hypersonic missiles into Ukraine is keeping the markets busy for now, the contours of an OPEC+ meeting taking place…

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