Oil: Supply surge weighs on prices – DBS
DBS Group Research’s Philip Wee notes that Brent and WTI have fallen sharply, as markets anticipate abundant supply from the Gulf. US Treasury Secretary Scott Bessent expects Oil prices to fall below pre-conflict levels, while ongoing negotiations with Iran and the status of the Strait of Hormuz remain key uncertainties for energy markets.
Brent and WTI extend declines
"Crude oil prices continued to decline, falling farther below USD 100 per barrel."
"US Treasury Secretary Scott Bessent expects oil prices to be lower than pre-conflict levels."
"The oil market will be very well supplied, with almost 2,000 ships waiting to come out of the Gulf."
"Even if headline energy prices cool, the secondary damage to global logistics from the months-long closure of Hormuz has started to filter into intermediate goods."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Why Is NEAR Dropping? Open Interest, Funding Rate, and RSI Signal Explained
Why Is UNI Up 4.84% While REZ Drops 15% Today? Here’s What the Data Says
Why Is USELESS Dropping 4.84%? Open Interest, Funding Rate, and RSI Signal Explained
As the 10-year US Treasury yield breaks above 5% and Japanese bond yields fall below 3%, global bond market pressure surges!
Global bond markets are sounding the alarm as US Treasury yields break 5%, reaching their highest level since 2007, and Japanese bond yields hit a 30-year high. Soaring oil prices, persistent inflation, and mounting debt are triggering a wave of sell-offs. Institutions warn: 5% is by no means the endpoint—6% is now in sight! With US and Japan central bank decisions imminent this week, a more intense asset storm may just be beginning.
Crypto prices
More
