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.
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.