Safe-Haven Demand Remains Robust as Geopolitical Situation Remains Unstable
BonTradeOil and gold prices remained firm in European session today. Market sentiment is fragile as investors concerned that tensions in the MENA region will escalate further. The rebound in USD amid safe-haven demand probably curbed gains in commodities, though. The front-month contract for WTI crude oil continued hovering around 100 today. Corresponding Brent crude contract initially rose to 116.36 before pulling back to 115.36. Should unrest in the Middle East spread to Saudi Arabia and cause disruption in oil output, oil prices should rally further.
Original post:
Safe-Haven Demand Remains Robust as Geopolitical Situation Remains Unstable
