Crude Oil Weekly Price Forecast – Crude Oil Has Another Consolidation Week
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The crude oil market experienced a positive week but remains in a consolidation phase, indicating potential choppiness as it attempts to establish a base.
December 13, 2024 | 6:00 pm
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The United States Brent Oil Fund (BNO) may experience volatility as crude oil markets remain in a consolidation phase, despite recent positivity.
BNO, which tracks Brent crude oil prices, is likely to experience volatility due to the current consolidation phase in the crude oil market. While the market has been positive, the ongoing choppiness suggests uncertainty in price direction.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50