Oil News: Will Crude Break $70.72 as Geopolitical Risks Intensify?
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Oil prices are rising due to geopolitical risks and technical support, with traders watching the $70.72 resistance level for a potential breakout towards $73.07.
November 20, 2024 | 11:15 am
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The United States Brent Oil Fund (BNO) may see increased volatility as oil prices rise due to geopolitical risks, with traders watching the $70.72 resistance level.
BNO, as an ETF tracking Brent oil prices, is directly impacted by changes in oil prices. The current geopolitical risks and technical support are causing oil prices to rise, which could lead to increased volatility and potential gains for BNO if the resistance level is broken.
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