Oil prices are experiencing an upward trend, supported by OPEC+'s decision to extend production cuts and heightened geopolitical tensions, particularly in the Middle East.
Iran's threats against Israel following recent airstrikes have intensified market concerns about potential supply disruptions, contributing to the bullish sentiment in crude prices.
The outcome of the U.S. presidential elections could greatly impact oil prices, with differing policies on energy production from candidates shaping the market's future.
Despite recent gains, the oil market faces challenges, including weak demand from China and oversupply, underscoring the volatility influenced by OPEC+ and geopolitical developments.
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