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Oil Market Faces 'Higher for Longer' Risk: Saxo Bank
What happened
Ole Hansen, commodity strategy head at Saxo Bank, discusses the impact of the ongoing conflict in the Middle East on energy markets as oil heads for another weekly gain. Speaking on Bloomberg Television, Hansen says everything "points to a higher for longer" scenario. "It will take time to get that supply back, so higher for longer seems to be the risk right now," he adds. (Source: Bloomberg)
Why people care
Reported by Bloomberg.
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