Market Update
Despite the vanishing trading volumes amid 26 Aug’s UK public holiday, the beginning of the week has been anything but quiet in Brent futures. The Nov’24 Brent futures contract jumped up to $80.50/bbl on 26 Aug (14:00 BST), with the bullishness likely stemming amid thin liquidity and improved sentiment due to supply disruptions in Libya, renewed tensions between Israel, and Hezbollah and Iran, and a dovish US Fed following last week’s Jackson Hole symposium.
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