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Natural gas prices are still elevated, as risk-on flows stemming from upgraded EIA oil demand forecasts and the World Bank’s 2024 GDP growth forecasts lifted commodities. The updated Fibonacci retracement levels show where buyers might be waiting to join in the rally in the event of pullbacks. The 38.2% Fib is at $2.778 near the 100 SMA dynamic support, ...
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The path forward for OPEC+ is perilously narrow. Some members are laser-focused on a higher oil price to balance their budgets, while others prioritize volume. Some members are overproducing while others continue to accept voluntary cuts. African members feel neglected. Russia, Iran and Venezuela remain under sanction. Production quotas have contributed to ...