Almost everything is favoring the bear case for oil right now
Almost everything is favoring the bear case for oil right now: Tom Essaye Quoted in Market Watch
Oil futures finish higher, but analyst sees bearish trend for prices
Despite the Middle East developments, “almost everything is favoring the bear case for oil right now,” said Tyler Richey, co-editor at Sevens Report Research. “Uncertainties about global economic growth amid recently commenced central bank rate-cutting cycles, OPEC+ planning to raise production targets by year-end and evidence of fading consumer demand in the high-frequency inventory data all support the oil bears here,” he told MarketWatch.
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