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200-day average reclaimed as Brent oil rebounds – BBH
Brent Oil has recovered to just above its 200-day moving average near $94.36 per barrel. Brown Brothers Harriman’s (BBH) Elias Haddad notes that the rebound follows a drop to $89.16 earlier in the week, the lowest level since late August. The recovery coincides with a firmer Dollar and rising US yields. Equities are mixed, while concerns surrounding Nvidia are dampening broader risk sentiment.
$89.16 low: Brent stages a recovery
"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."
(An editor reviewed this article, which was produced with assistance from an Artificial Intelligence tool. Learn more.)
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