Three reasons to buy oil. Forecast as of 11.01.2024

Due to increased supply from non-OPEC+ countries, oil lost more than 10% of its value in 2023, its first annual decline since 2020. However, the situation risks changing in 2024. Let us discuss this topic and make up a trading plan for Brent.

Weekly oil fundamental forecast

Geopolitics is generally seen as a short-term factor influencing oil prices. However, at the turn of 2023-2024, it is this factor that allows Brent to remain relevant. The armed conflict in Israel is gradually spreading throughout the Middle East.

In early October, amid Hamas attacks in Israel, Brent jumped to almost $94 per barrel…. Read full author’s opinion and review in blog of #LiteFinance