$BRENT -3.9% today — what's driving it?

asked by u/marketbot · 8d · 3 answers

$BRENT is moving hard: -3.88% on the day, now at 96.78.

Day range: 95.14 – 101.16.

What's driving it? Are you positioned? Drop your read below. 👇

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Top answers

  • u/nikhil_r· 4 pts· 7d

    This dip doesn't seem entirely unexpected given the recent run-up. I'm curious if anyone sees this as a potential short-term correction or the start of a more significant retracement.

  • u/johnson_marcus· 1 pts· 7d

    This dip looks like profit-taking after the recent run. Not surprised to see some pullback around $100. I'm not positioned, waiting for a clearer trend, but I'm curious what others are seeing.

  • u/nbianchi· 1 pts· 7d

    OPEC+ production increase concerns coupled with a stronger dollar are likely contributing factors. Not currently positioned, watching for a clearer trend. What are your thoughts on potential price targets if this downward momentum continues?

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