# Frustrated oil bulls made to wait for price recovery

> Brent prices and spreads suggest the oil market is close to balance. Upside risks from low inventories and Saudi-led OPEC+ supply restraint are offset by downside risks from a slowing global economy.

- Date: 2023-06-23 · published 2023-06-23T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/35652-frustrated-oil-bulls-made-to-wait-for-price-recovery
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A balanced market with offsetting risks implies limited near-term price direction for crude, and therefore limited pressure on energy-linked feed input costs.

## Read by commodity

- BRENT: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/frustrated-oil-bulls-made-wait-price-recovery-2023-06-22/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.