Brent Flirts With $80 as Recession Fears Ease

Oil prices are slowly but surely recovering after four consecutive weeks of declines, with Brent nearing $80 as geopolitical risk and demand optimism boost bullish sentiment. Friday, August 9th, 2024Recovering from Monday’s giant stock selloff, oil prices are set for a much-needed weekly gain after four straight week-over-week losses as ICE Brent flirts with the $80 per barrel mark again. Fears of an impending economic recession were alleviated by stronger US jobs data and with markets closely following Iran’s retaliation vis-a-vis…