The Fear Driven Oil Price Rally Won’t Last

Over the past week, oil prices have trended higher as concerns about escalating U.S.-Iran and Iran-Saudi standoffs have overshadowed bearish-side concerns about the U.S.-China trade war and slowing global economic growth.

The rising tension in the Middle East and the critical oil tanker waterways in the region have had some analysts and investment banks return to talking about Brent Crude hitting US$80, US$90, or even US$100 a barrel, compared to the current level of around US$72 per barrel.

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