Natural Gas and Oil Forecast: Will Bullish Trends Push Prices Past $75?
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Crude oil prices are approaching $75 due to declining inventories and tightening global supplies. The article questions whether these bullish trends can continue in a volatile market.
January 08, 2025 | 6:30 am
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The United States Brent Oil Fund (BNO) is likely to be impacted by the rising crude oil prices, which are nearing $75 due to inventory drops and tightening global supplies.
BNO, as an ETF that tracks Brent crude oil prices, is directly affected by changes in oil prices. The current bullish trend, driven by inventory drops and tightening supplies, suggests a potential short-term price increase for BNO.
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