Crude Oil Price Outlook: Supply & Demand Tug of War Continues for Brent

Brent crude oil broke down on Monday as markets brace themselves for a major central bank themed week. Multiple central banks are scheduled to deliver interest rate decisions with focus on the Federal Reserve. With much talk about a surprise 100bps rate hike by the Fed, markets have propped up the U.S. dollar ahead of Wednesdays meeting leaving brent crude exposed to further weakness should the Fed decide on an ultra- hawkish approach.

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