Crude Oil: Fundamentals hint at lower prices going ahead - ICICI Bank : Treasury Research

Crude oil prices rose in the month of July, partly aided by a weaker Dollar and partly aided by geopolitical tensions in the Middle East, esp. around Egypt. Also, the Brent-WTI gap narrowed and was almost eliminated as market participants expect new US pipeline infrastructure to end the supply glut in US MidWest. However, considerable downside risks remain to oil prices given weak demand outlook and rising oil supply.

Source : Equity Bulls

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