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Crude Oil Analysis: WTI and Brent Dump to Multi-Month Lows
When analyzing oil prices, it always comes back to fundamental supply and demand. Through the third quarter of this year, when the US economy was growing at a far better pace than expected and traders were concerned about the potential for supply disruption from conflicts in the Middle East, oil prices surged by nearly 30%. Now though, as we’ve shifted into the fourth quarter, those trends have reversed. While the humanitarian cost of the Israel-Hamas war continues to grow, analysts are increasingly confident that it won’t spread into a broader regional conflict that disrupts oil production. Meanwhile, reports ... (full story)