Analyst sees Brent volatility rising ahead of US midterms
In short
Brent oil prices may swing more before the US midterm election, according to Mohammed Imran of Mirae Asset Sharekhan.
He said Brent futures could test $120 a barrel in the near term. It is not stated how long the move may last or whether the price will reach that level.
What the reporting says
Brent oil futures are expected to turn more volatile ahead of the US midterm election, with resistance near $120 a barrel, according to Mohammed Imran of Mirae Asset Sharekhan. The report gives a short-term price level rather than a policy change. What remains unknown is whether Brent will actually reach that level or how long the volatility could last.
Why it matters
Mohammed Imran of Mirae Asset Sharekhan is warning that Brent futures may become more volatile before the US midterm election and could test $120 a barrel. The note matters to oil traders and broader markets because a move toward that level can affect energy prices and risk sentiment. The source does not say what would trigger the move or whether the forecast will be met.