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Javier Blas: Brent oil front-month contract trades in $13 range without news

Javier Blas: Brent oil front-month contract trades in $13 range without news
Brent oil sees wide intraday move

Javier Blas, industry influencer, reports that the front-month Brent oil contract has experienced significant price movement today, trading within a $13 range.

He notes that this volatility has occurred in the absence of any major news or market-moving events.

The move comes after OPEC+ agreed to proceed with a mostly symbolic output hike as core members met while the Strait of Hormuz closure constrained material supply increases, according to a recent report by Blas. Earlier, he discussed the potential for oil prices to climb further during heightened tensions between the U.S. and Iran in a separate interview. Recent events have kept crude markets sensitive to headlines and supply risks.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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