Brent Crude Prices Remain Rangebound Amid Geopolitical Risks

Rabobank's analysts are warning that Brent crude oil prices will remain rangebound due to a delicate balance between supply-side risks and demand uncertainties.

The bank points out that geopolitical tensions in key producing regions, including the Middle East and Eastern Europe, have kept a risk premium in prices. However, concerns over global economic growth and potential interest rate hikes by major central banks continue to cap upside momentum.

Brent crude has been trading near the mid-$80s per barrel, with futures hovering at this level, according to recent trading data.