Oil price on the rise
The price of Brent oil has risen to above USD 80, the highest level in four years. Increasing worries about supply and signals that OPEC is less inclined to increase output have pushed prices higher. As a result, some analysts have started talking about the ‘magic’ level of USD 100 per barrel of oil again. However, for that to happen some easing of the trade tensions between China and the US would probably be required. So far, however, tensions have increased and so has their potential impact on global growth. This would be a negative for oil prices as well.
As a senior portfolio manager I use charts to illustrate financial issues every day. I tweet my favorites as @jsblokland and was named one of the ‘50 Twitter accounts for investors 2017’ by MarketWatch.
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