Oil price climbs to its highest level since 2015:
"Oil rose to the highest level since 2015 on Tuesday, climbing above $67 a barrel as hedge funds placed a record bet that Brent crude’s near 35 per cent rally over the past six months will continue into the new year, with protests in Iran stoking buying. While Iran’s oilfields have so far been unaffected by the largest protests against the Islamic regime in almost a decade, traders said renewed risks in Opec’s third-biggest producer had added to momentum as prices test new peaks. “Geopolitical risks are clearly back on the crude oil agenda after having been absent almost entirely since the oil market ran into a surplus in the second half of 2014,” said Bjarne Schieldrop at Nordic bank SEB. “Geopolitical risks started to impact the oil price again last autumn as production cuts then had drawn inventories significantly lower.”"
'via Blog this'
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