Oil Rises; Outlook Remains Bearish
Portfolio Pulse from
Oil prices rose in early Asian trade, but the near-term outlook remains bearish according to Hani Abuagla, XTB MENA's senior market analyst.
December 09, 2024 | 1:45 am
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NEUTRAL IMPACT
BNO, an ETF that tracks Brent crude oil prices, may experience short-term volatility due to the rise in oil prices, but the overall bearish outlook could limit gains.
BNO is directly affected by changes in oil prices. The rise in early Asian trade could lead to short-term gains, but the bearish outlook suggests limited upside potential.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80