Underlying trend for black gold is bearish
Matein Khalid Brent’s rise to $103 is entirely rational on short covering, the Friday rally in risk assets and the absence of any firm commitment by Saudi Arabia, Kuwait and UAE, to boost output during President Biden’s state visit to the kingdom. Apparently, the Jerusalem Declaration and fist pump diplomacy have not been sufficient to reset relations between the Biden White House and MBS. This rally is […]