Financial Mirror on Nostr: nostr:note1wwll4cfhdan78pdgrhkwrh6ww0pan4ruaespcxuv5fjpepkvdlkqapc30e

quoting note1wwl…c30e

Oil Prices Under Pressure Due to Slower Economies and Geopolitical Tensions
===============
#73e50478 ver:1.07

Oil prices rise on geopolitical tensions and supply concerns, with Brent crude reaching highest level in four months. Weak demand sentiment reflected in US crude inventories, but forecasts suggest prices could surpass $90 per barrel by May. Traders buying oil at fastest rate since 2020 due to constrained supply and refinery disruptions. OPEC predicts robust fuel use in summer and steady growth in global oil demand. Executives confident in rising oil consumption despite electric vehicle rise. UK diesel prices decline, biodiesel costs low. Oil prices under pressure due to economic data and lack of expected rate cuts. World Bank warns of $100 per barrel if Middle East conflict escalates. Energy transition not moving fast enough, says Wood Mackenzie....

#newstr #OilPrices #Opec #GlobalOilDemand #EconomicData #InterestRates #MiddleEastConflict #EnergyTransition #Ukraine #Russia #Total #G7 #Coal #GasSupplies #India

https://here.news/story/73e50478?ver=1.07