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Market Now Skeptical of Supply Disruption Events
In an oil and gas report sent to Rigzone this week, Macquarie strategists outlined that the market is now skeptical of supply disruption events. “Even with the current focus on potential supply disruption, increasing macro concerns and the potential impact on demand are shaping views and positioning,” the strategists noted in the report. “We continue to hold a bearish view while appreciating the risks associated with the current Middle East conflict. Crude is approaching the 200D MA which could accelerate liquidation,” they added. “We anticipate the potential of further price correction through year end ... (full story)