ING strategists Ewa Manthey and Warren Patterson note that Brent Oil has extended its rally, trading above $91/bbl as geopolitical risks and supply concerns support prices. They highlight US President Donald Trump’s decision on the US-Iran peace agreement, security risks in the Strait of Hormuz, and Saudi Arabia’s efforts to diversify export routes away from the Persian Gulf.
Geopolitics and supply underpin Brent
“Oil prices extended gains for a third consecutive session, with ICE Brent trading above $91/bbl. Sentiment remained supported by US President Donald Trump’s decision not to extend the US-Iran peace agreement and continued security…
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