Oil: Diverging supply signals shape Brent – ING
ING’s Warren Patterson notes that ICE Brent has repeatedly dipped below $100/bbl but continues to settle above this level as the market weighs conflicting supply and geopolitical factors. Higher oil flows through the Strait of Hormuz, G7 reserve releases, and recovering Saudi pipeline capacity contribute to diverging supply signals.
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At publication → CurrentBRENTOIL101.47 → 102.22+0.7%