Natural Gas and Oil Forecast: Will Geopolitical Tensions Keep Prices Elevated?
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Geopolitical tensions and risks to Gulf supply are causing an increase in oil and natural gas prices. The article provides a forecast for market movements and key levels to watch.
November 07, 2024 | 6:30 am
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The United States Brent Oil Fund (BNO) is likely to be impacted by rising oil prices due to geopolitical tensions and Gulf supply risks.
BNO, which tracks the price of Brent crude oil, is directly affected by changes in oil prices. The current geopolitical tensions and supply risks in the Gulf are likely to push oil prices higher, benefiting BNO in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80