The supply and demand balance continues to outweigh geopolitical risk.
Israel has dispatched ground forces into southern Lebanon, in a major escalation of the war in the Middle East.
Brent prices could head toward $60 per barrel or below in 2025, said Bob McNally, president of Rapidan Energy. "We have two wars going on at the moment, we've had a massive racheting up of tensions in the Middle East and yet oil to date has not been affected by either conflict in a material way," Helima Croft, head of global commodity strategy at RBC Capital Markets, told CNBC's"
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