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Bloomberg, citing IEA: Gulf exports recover, global oil market expected to turn to oversupply
According to Bloomberg, citing a report by the International Energy Agency (IEA), the global oil market is projected to shift into a supply surplus for the first time since the outbreak of the Iran war, as exports from the Persian Gulf resume. This assessment was made against the backdrop of the ongoing conflict and reflects the IEA's expectations for market supply and demand.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
24H Trending
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WTI crude oil rose 3.23% from its previous close, currently trading at $89.034
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Gold fell 2.66% from its previous close, currently trading at $3,881.04.
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The yield on the 30-year US Treasury bond rose by about 8 basis points from the previous close, currently standing at 5.44%.
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The 10-year US Treasury yield rose by about 8 basis points from the previous close, currently standing at 5.08%.
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