Oil Extends Gain With Focus on Supply Uncertainty, Weaker Dollar
Oil extended a string of marginal gains to settle above $72 a barrel amid uncertainty over global supplies and a slumping dollar that made commodities priced in the currency more attractive. The market remains cautious despite a lack of substantial catalysts, with prices likely remaining rangebound as traders position themselves closer to average prices. Despite this, concerns about supply chain disruptions continue to underpin sentiment.
- This price stability could be an illusion, masking deeper structural issues in the oil market that may arise once trade tensions or other global events disrupt supply chains.
- How will the ongoing volatility in global energy markets impact oil investors' and traders' ability to make informed decisions on long-term investments?