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Oil holds gains above $70, and that's where Morgan Stanley expects it to stay

The API private oil inventory data is due out later today and will be the next market mover for crude; though it usually leaks early. We're now past the period of seasonal strength for oil but we're into a period of voluntary production cuts from Saudi Arabia and Russia. The US SPR release are now finally done.A deficit in the oil market is now widely expected to persist for the next few months, and potentially further if the voluntary cuts continue.But Morgan Stanley doesn't see much upside for... Read More

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Posted: Jul 5 2023, 14:43

Author Name: forexlive

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