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Oil: Brent rebound lifts prices above 200-day average – BBH
Brent Oil has recovered despite a firmer Dollar and higher US yields, while equities remain mixed and Nvidia-related worries weigh on broader risk sentiment. According to Brown Brothers Harriman’s (BBH) Elias Haddad, prices have rebounded to just above the 200-day moving average near $94.36 per barrel, having touched $89.16 earlier in the week, their lowest level since late August.
How Has Brent Rebounded From Its Recent Lows?
"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. Learn more.)
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