$70 Gives Brent Cold Feet, for Now

摘要

Brent could not hold on to the $70.26 that it had put down on Monday and fell in high trading volumes by $1.11 on Tuesday — with analysts wondering whether this is a pause in the trend up or the start of a major slide. That prices are going up is no wonder, Societe Generale said in a note, since fundamentals, speculative capital and geopolitics all are supportive of the oil price. Strong demand and supply outages have tightened the market, with inventories drawing, the bank noted.