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Oil prices have been on the rise, with a silent increase from $78 to $83 per barrel in March. The market trusts OPEC+ production cuts to continue, potentially pushing prices to $90 per barrel sooner than expected. Analysts see oil as resilient to interest rate hikes and expect the energy sector to continue performing well.
Much higher oil prices are almost in focus https://t.co/Y8nnviFw1z
Oil prices forecast for 2024 – UBS https://t.co/VujGXhHRuX https://t.co/jx4LRrIx6K
#oil likewise as my key bullish pick did well, conquering $82.50 on rising volume and no selling into the close. $WTIC would be more resilient to 10y interest rate increases, which are sure to follow Powell‘s speech. Note how well #energy is still doing,and will be continuing so. https://t.co/NWwCgZrzQw