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Brent Crude – Oil remains volatile amid economic uncertainty
It’s been a volatile week in the oil market, with prices today down around 2% after rebounding a similar amount a day earlier. The economy remains a downside factor for oil prices, with traders clearly concerned about growth prospects amid high interest rates. Europe is already struggling under the pressure, as the ECB was keen to point out today. Earnings season isn’t going particularly well and we’re constantly being reminded of the downside economic risks here too. And then there’s the situation in Gaza and Israel which has previously triggered a surge in oil prices and is now being unwound due to the ... (full story)