Oil prices are on track to post a second weekly gain as bullish sentiment builds and the prospect of a prolonged price rally becomes increasingly likely. Friday, September 20th, 2024Oil prices are set to record their second straight week-on-week gain with WTI rebounding above $70 per barrel and now trading closer to $72 per barrel, but the fact that the US Federal Reserve has at last initiated a new cycle of monetary easing should have prompted a stronger market response.
With a weaker dollar and an improved macro risk outlook, next week could…Has Sentiment Finally Shifted in Oil Markets?
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