Brent: Prices rise amid geopolitical tensions – Deutsche Bank

FXStreet Insights Team FXStreet

Deutsche Bank's report notes that Brent Oil prices have increased due to rising geopolitical tensions, particularly concerning Iran. The report mentions that Brent is trading at its highest since late-September, with a notable rise of 1.23% and further gains observed in the following morning. The situation has contributed to a bullish outlook for oil prices.

Brent Oil prices reach new highs

"Oil prices saw further gains after Trump posted that a 'massive Armada' was heading to Iran, and that time was 'running out' for Iran to make a deal with the US."

"Brent (+1.23%) up to its highest since late-September and trading another +1.62% higher this morning at $69.51/bbl."

"Fears of tensions escalating between the two countries caused oil prices to rise."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

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FXStreet Insights Team

FXStreet

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