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Oil market near equilibrium?
Having rallied to $90/bbl and beyond for a brief while, it appears the international oil market seems content for now, as it weighs the upsides and downsides – with no clear winner. The last week has seen Brent oil flirting with the $90/bbl barrier – trying to break free on every occasion, only to be tested sternly and settling at just under. The relative calm as the West would like to call it, in the Middle East, seems to have a role in oil prices searching for impetus. The fear of escalation arising from the Iran-Israel conflict was always overblown, according to close market observers. The likelihood of the ... (full story)