Oil prices on a strong footing – Danske Bank

Sandeep Kanihama FXStreet Contributor

Oil prices rallied strongly yesterday with the price on Brent crude moving firmly above the USD74/bbl level, notes the research team at Danske Bank.

Key Quotes

“Prices were supported by the fall in USD and decline in US oil inventories last week. The later has eased concerns in the market about the impact of growing supply from OPEC recently.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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