Brent will remain in the range of $71-73
Brent oil prices remained below $72/bbl on Tuesday. amid a strong dollar and concerns about demand. At the same time, a slow recovery in oil production in the Gulf of Mexico is holding back prices from a stronger decline. Today, statistics from API are in focus, which will show the real situation in mining and processing after Hurricane Ida. As of Tuesday, about 79% of production in the bay has not yet been restored.
We maintain expectations that Brent will remain in the $ 71-73/bbl zone for the time being. with lower bound test risks at worsening investor sentiment.