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Will crude oil have a trending market in the short term?

by admin

The issue of the US debt ceiling has not been resolved, the market risk aversion still exists, and there is a downside risk in the short-term oil price. In the medium term, the supply side is relatively tight, and the demand for crude oil is resilient. In the second half of the year, the gap between supply and demand will support the center of oil prices above US$70/barrel. In the short term, Brent crude oil will face strong pressure around 78 US dollars, and it is expected to maintain a wide range of shocks.

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