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Top Oil Trader Sees 'Unprecedented' Uncertainty

From bnnbloomberg.ca

Oil prices might have been relatively calm over the last couple of months, but the levers pushing and pulling them have reached “in some cases unprecedented” levels of uncertainty, according to Vitol Group. Risks including Iran, the U.S.-China trade war and growth in electric vehicles are pulling crude in different directions, resulting in a relatively stable price range, said Giovanni Serio, global head of research for Vitol, the world’s biggest independent oil trader. Ample spare capacity -- in OPEC and U.S. shale -- is also countering any upward pressure on prices, he said. “There’s a risk of increasing ... (full story)

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  • Category: Fundamental Analysis