US-China Trade War Poses Greatest Threat to Crude Oil Prices
Crude oil prices may continue their rise in Q1 of 2020 amid renewed market optimism from the reduced likelihood of a no-deal Brexit and easing trade tensions between the US and China. Year-to-date, Brent has risen just a little under 20 percent. Crude oil prices may be also rise as a result of production cuts by OPEC that are expected to tighten supply as demand for the energy source rises in a perkier sentimental climate.
Brent has been battered by the US-China trade war and the multi-iterated contagion effect the Sino-US conflict has had on other parts of the world. Disruptions in cross-border supply chains in Asia and Latin America have contributed to the global slowdown and contraction in manufacturing with businesses withholding capital and investment amid the economic hostilities.
Looking for the full guide? Full Q1, 2020 Forecasts will be released on Monday, December 23.
