Oil Price News: This Brent Rally Hasn’t Even Started
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The oil market exhibits a sense of false security. Pricing still signals that traders are betting on a fast resolution. But if that prediction proves wrong, the real escalation in oil prices may not even have begun, and the outcome could be worse than many expect.
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Oil has barely reacted to a disruption already removing hundreds of millions of barrels, implying the market expects a quick resolution. If that assumption is wrong, the repricing higher has not started yet.