Stalling around 2023 highs
Divergence a sign of waning momentum
Oil prices have stabilized again today after another choppy, albeit broadly bullish, start to the week.
They're now trading around their highest levels for the year and you have to wonder whether the recent announcements from Saudi Arabia and Russia, combined with better economic prospects, will be enough to lift the price to new 2023 highs, and above $90 in the case of Brent.
Are we seeing some profit-taking?
One thing that is
Aug 10, 2023
by Craig Erlam
