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Oil: Brent regains 200-day average as prices rebound – BBH
A fall to $89.16 earlier in the week took Brent Oil to its lowest level since late August before prices recovered to just above the 200-day moving average near $94.36 per barrel, notes Brown Brothers Harriman’s (BBH) Elias Haddad. The recovery has coincided with gains in the Dollar and US yields, while equity markets remain mixed and concerns surrounding Nvidia weigh on wider risk sentiment.
Brent rebounds above its 200-day moving average
"Brent crude oil prices bounced back just above its 200-day moving average ($94.36 a barrel) after hitting its lowest level since late August at $89.16 on Tuesday."
"Equity markets are mixed."
"Nvidia’s leadership turmoil is raising concerns over disruption to the broader AI industry, including the risk of tighter US chip export curbs on China."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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