November 27, 2024 (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a go-to platform for big investing ideas releases market commentary from Milad Azar Market Analyst at XTB MENA.
Crude oil futures could remain under pressure, struggling to recover from two consecutive days of decline. Markets are assessing the impact of a newly brokered ceasefire in the Middle East. This agreement could be a key concern for global oil markets as traders are closely monitoring the stability of the ceasefire. In the short term, the de-escalation of geopolitical tensions could limit the upside potential for crude prices, as risks of immediate supply disruptions recede. However, should the ceasefire fail, prices could quickly rise in response to the renewed risk of supply constraints.
Meanwhile, OPEC+ is considering delaying its planned output increase, originally set for January 2024. The group is weighing this decision due to weaker-than-expected demand, especially from China, and rising output from non-OPEC+ countries. A delay in scaling back production cuts could help support prices to a certain extent although oversupply concerns remain. Recent U.S. data showing a larger-than-expected drop in crude inventories points to a tighter market in the US and could support the market temporarily. However, U.S. President-elect Donald Trump’s proposed 25% tariff on imports from Mexico and Canada adds uncertainty.
Disclaimer
Global Investor Ideas is part of the Investorideas.com content umbrella and is owned by Econ Corporate Services Inc. For Investorideas disclosure and disclaimer please visit the site directly
Disclaimer/Disclosure: GlobalInvestorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by GlobalInvestorideas and investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. If we are not the source for content but just a publisher , please contact the source of all content for questions and info. We are not responsible for third party content.