Oil prices rose due to Chinese rate cuts and Middle East uncertainty.
The IMF downgraded its global growth forecast to 3.2%.
Technically, Further upside is possible if conditions remain consistent. Geopolitics remains key.
Most Read: USD/CHF Technical Outlook: Pullback Before Continuation?
Oil prices are enjoying a mini renaissance to start the week thanks to Chinese rate cuts and the ongoing and ever changing situation in the Middle East.
Oct 22, 2024
by Zain Vawda