Brent oil prices are currently trading around $65 per barrel, driven by expectations that global energy demand will increase as economic prospects improve in several key countries. Investors also view OPEC+'s decision to hold production increases for the coming months as a positive signal for the market, as this move could help balance supply amid concerns about oversupply.
Price gains are also supported by a weakening US dollar, which makes oil cheaper for holders of other currencies, and increased industrial activity in Asia. However, the short-term outlook remains clouded by concerns about a global economic slowdown and fluctuating fuel demand. Analysts believe that as long as Brent can stay above the psychological $65 level, the short-term upward trend has the potential to continue.
Source: Newsmaker.id
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