Oil Prices Unlikely to Return to $70 Soon, Says ATFX Chief Strategist

According to ATFX's chief market strategist Nick Twieda, via Jin10, oil prices are unlikely to return to $70 soon. Twieda noted that uncertainty remains regarding when the strait will truly reopen and how long oil flow normalization will take, stating the process will require months rather than weeks. He also expects the U.S. dollar to weaken in coming trading sessions, with risk currencies like the Australian dollar and yen seeing modest gains.
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