Natural Gas and Oil Forecast: WTI Holds at $71 Amid Strong Demand from China and India
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WTI crude oil prices remain stable at $71 due to strong demand from China and India, despite geopolitical tensions that could disrupt supply.
November 25, 2024 | 6:15 am
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POSITIVE IMPACT
The United States Oil Fund (USO), which tracks the price of WTI crude oil, may see stability or slight increases in its price due to strong demand from China and India, despite geopolitical tensions.
USO is directly linked to WTI crude oil prices. The strong demand from China and India supports WTI prices, which in turn supports USO. Geopolitical tensions add uncertainty but current demand trends are positive.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80