$UKOIL could revisit $105 by early 2024

azizelliott Updated   
TVC:UKOIL   CFDs on Brent Crude Oil
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πŸ”” Brent Crude may revisit $105 based on this weekly chart, on a longer term, we might see the price of the oil to rise to $170.

πŸ”” The US is easening the access to the market for Iran, whereas Iran reported that it will increase its production to fulfill the market's demand.

πŸ”” On the other side, OPEC will take necessary measures to keep the price higher by either cutting the production or negotiating with Iran on global oil production quota.

πŸ”” Iran's access to the global market won't intie Iran's hands on producing and selling oil at its will, as the state is also a long-time member of the Cartel.

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