It really has been a momentum-driven push to $60 over the past week. We've seen funds really pile in hard in an effort to push it over (that level).
"Daniel W. Hynes" is an United States/American politician, formerly the Illinois Comptroller. He currently works in client services and marketing for Ariel Investments in Chicago.
More Daniel Hynes on Wikipedia.Fears that production will be cut at a time of relative tightness has pushed the price higher.
If high prices do continue much longer, they will certainly have a bite on GDP growth. At the moment, we are at the stage where prices are really driven by short-term factors that the market has been dealing with for the last few months.
All these factors create apprehension in the market and reinforce the view that we're on a knife's edge in terms of supply and demand. The uncertainties heighten the risk premium applied to this market.
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