Daily market commentary: Brent oil prices are trading almost flat

Oil

Brent oil prices are trading almost flat during early European trading, after gaining more 2.5% during the previous session. The gains came after the release of data on China’s oil demand, which surprised to the upside by showing a recovery to last February’s levels. At the same time, expectations regarding the end of the Fed’s monetary policy tightening cycle continue to gain traction amongst investors, supporting a scenario of increasing demand for oil in the United States.

Daily Market Commentary

With investors choosing to consider the optimistic scenario, of an increase in oil demand in the world’s two largest economies, there may be scope for further increases in the price of the barrel.

Ricardo Evangelista – Senior Analyst, ActivTrades

The optimistic bullish trading stance has taken a break this week in Europe, read more…


Disclaimer: opinions are personal to the authors and do not reflect the opinions of LeapRate. This is not a trading advice.

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