Crude oil is finding a base around the $US60 level currently being supported by aggressive rhetoric between the US and Iran. OPEC+ are also on track to pause production increases in March which has helped push Brent futures to a four-month high last week after US President Donald Trump warned Tehran to make a nuclear deal or face military strikes.
- We are looking for oil to provide a buying opportunity in 2026 but the risk/reward isn’t exciting after the recent appreciation.
MM is neutral towards crude oil around $US70/barrel
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