Oil prices next move likely dip below $80 rather than jump above $90: Macquarie

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Go back to Oil prices next move likely dip below $80 rather than jump above $90: Macquarie

Citi explains why oil prices are trading lower

May 12, 2024 8:00 AM EDT

In the latest Oil Monitor report from Bank of America, a notable decline in oil prices is attributed to shifting market dynamics, with geopolitical concerns taking a back seat to supply-side factors.

According to Citi's analysis, the market's perception of geopolitical risks in the Middle East has softened, leading... More