Oil Price Forecast | 17th March 2023


Key News Events

No major news events.

Oil Outlook

The intervention by the US and European central banks, along with major US banks, to address the liquidity crisis can indeed contribute to stabilizing the banking sector and alleviating concerns about a potential widespread banking crisis. As a result, this could help diminish uncertainty and volatility in the oil market.

When the banking sector is stable, it can lead to increased investor confidence, which in turn could support global economic growth and energy demand. Furthermore, when there is reduced uncertainty, market participants may be more willing to take on risk, potentially leading to increased investments in oil and other commodities. However, it is crucial to monitor other factors such as geopolitical tensions, global economic developments, and supply-demand dynamics in the oil market, as they can also significantly influence oil prices.

Next 24 Hours Bias

Weak Bullish