Oil markets continue being stuck in limbo with oil prices so far failing to achieve any significant momentum in the new year. Commodity analysts at Standard Chartered have made an interesting observation that front-month Brent has touched $77.97/bbl for 12 consecutive trading days, including the last trading day of 2023.
StanChart says this situation is unlikely to change in the near-term, with its proprietary machine-learning model dubbed SCORPIO predicting minor changes in oil prices over the next week. Source: Standard Chartered Research Last…Standard Chartered Thinks Oil Prices Are Flirting with Risk Denial
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