2018 Brent Crude Oil Volatility: August Outlook
Quantitative Analyst Vito Turitto: The uptrend in Brent prices accelerated in late July in part due to increased geopolitical risk factors. However, summer demand is good, with the looming refinery turnaround season in Asia likely to limit the volumes of crude purchased by Chinese clients, which will undoubtedly affect prices during August.
- Saudi Aramco suspended its shipments through the Bab el-Mandeb Strait
- OPEC aim to stabilize the market
- Brent prices to go up