Oil falls on prospect of higher-for-longer US rates, stronger dollar
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Citi explains why oil prices are trading lower
May 12, 2024 8:00 AM EDTIn 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
