Brent Rises on Geopolitical Risks, Support from Crack Spreads – SocGen
Societe Generale analysts note Brent crude has surged due to US-Iran tensions, Trump's rhetoric, and Houthi blockade threats, while crack spreads in Asia and the US outperform on tighter refined product conditions.
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According to Societe Generale's Michael Haigh and Jeremy Sellem, Brent crude prices have surged as geopolitical factors push up risk premia. Key drivers include rising US-Iran tensions, aggressive rhetoric from former President Trump, and threats of a Houthi blockade.
Source: FXStreet Forex News