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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 340389, member: 104606"] [B][SIZE=5]WTI Oil Price Reaches 4-month High[/SIZE][/B] [img]https://i.imgur.com/FSb2buH.jpeg[/img] The International Energy Agency (IEA) has once again raised its forecasts for global oil demand in 2024. While the agency's forecast pointed to the prospect of an oil surplus in 2023, its analysts now believe that the world will experience a shortage of oil in the second half of 2024. Among the reasons for the shortage: → limitation of oil production by OPEC+ countries, it is 2 million barrels per day until the middle of the year. And it may be extended, as Bloomberg writes — the decision is scheduled for June 1; → changes in logistics routes due to Houthi attacks on tankers in the Red Sea. Also, a bullish impulse for the price of WTI oil can be provided by the geopolitical situation, which remains tense. [img]https://i.imgur.com/panbB0y.png[/img] [B][URL="https://fxopen.com/blog/en/oa-wti-oil-price-reaches-4-month-high/?utm_source=trendriforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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