Oil prices traded close to a three-year high on June 24, supported by geopolitical tensions, including China and Iran, falling US inventories and prospects for a strong economy. Brent traded a $74.74 a barrel while US crude traded at $72.58 a barrel on June 24. Both benchmarks had hit their highest since October 2018 on June 23 before paring back gains, according to Reuters.


“My sense from the gutter is really saying there is pressure for the oil price to go up still and I know some of my trader friends are putting it down as a 25 percent chance to go.


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