Commerzbank: Conflicting Demand Signals Weigh on Oil Outlook
Commerzbank analysts note that Brent and European gas prices edged up on renewed US-Iran tensions, but muted reactions reflect ample inventories and rerouted supply flows.
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Commerzbank’s Norman Liebke and Carsten Fritsch point to conflicting demand signals shaping the oil market outlook. While Brent crude and European natural gas have risen on the back of renewed US–Iran tensions, price moves remain subdued.
The analysts attribute the muted response to comfortable inventory levels and the ability to reroute supply flows. The mixed signals leave the near-term direction for oil prices uncertain.
Source: FXStreet Forex News