Fundamentals to drive oil correction in Q4: Macquarie
market is poised for a significant correction in the fourth quarter of 2024, driven primarily by increasing supply/demand surpluses. While oil prices have been recovering from previous lows, the fundamentals suggest that the market is headed for a downturn, as per analysts from Macquarie in a note dated Monday.production from key regions around the world. As output ramps up, it is projected to outpace demand, creating a surplus that will likely exert downward pressure on prices.
Adding to this, global oil inventories are likely to swell as supply consistently exceeds consumption. Historically, such inventory builds have been a clear signal of impending price declines, as they reflect an oversupplied market struggling to find balance. Without significant geopolitical disruptions, the fundamentals are expected to dominate, driving prices lower.
The correction could deepen further as the market adjusts to these new dynamics, potentially leading to a sustained period of lower prices.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Using fintech apps, debit cards to teach kids money fundamentalsAn app called BusyKids allows children to gain experience with money before reality smacks them in the face. It's another option for payment alternatives.
Read more »
Solana ETF Hopes, Rising Fundamentals Are Driving SOL Prices Higher, Traders SayShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Read more »
Kalen DeBoer Says Ryan Williams Needs To Find Consistent Fundamentals To Make an ImpaThe phenomenal freshman is already turning heads in Tuscaloosa as fall camp opens up this week.
Read more »
Gold Stocks: Macro Setup Is Evolving After Decades of Poor FundamentalsCommodities Analysis by Gary Tanashian covering: XAU/USD, Gold Futures, Copper Futures, Crude Oil WTI Futures. Read Gary Tanashian's latest article on Investing.com
Read more »
Goldman says buy these cheap stocks with healthy fundamentals during this sell-offGoldman believes the economic concerns are overblown.
Read more »
Stock markets are in flux, but economists say don’t panicAnalysis: Monday’s slide might reflect overvalued stocks more than worries about fundamentals.
Read more »