Oil prices to mirror development in risk sentiment and USD – Danske Bank

Oil prices have rebounded significantly in the past days with the price of Brent crude recovering to USD65/bbl level, notes Senior Analyst, Piet P.H. Christiansen at Danske Bank.

Key Quotes

“The main culprit has been the steep drop-back in USD and positive turnaround in risk sentiment. The weekly EIA report on Wednesday did not offer much for the market to trade on. In the short-term, we look for oil prices to mirror development in risk sentiment and USD.”