Wednesday , 22 January 2025
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Bank of America bullish crude oil over the next month

Bank of America are bullish crude over the next month futures contract roll:

  • overweight Brent, gasoline, gasoil over a one-month horizon

Cite OPEC withholding output

  • acknowledge mile surplus in global supply
  • the risk os US hard landing has receded
  • still concerns over Chinese demand

Over 3 – 6 months BoA see

  • weakening of global institutions (an upside risk for gold and previous metals)
  • Fed rate cuts
  • potential Middle East escalation
  • aggressive fiscal and monetary stimulus in China

This article was written by Eamonn Sheridan at www.forexlive.com.

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