Pound to dollar outlook: UBS sees GBP/USD rising to 1.40
Oil prices rose in early Asian trade, supported by renewed concerns over global supply risks. WTI crude gained 0.7% to $63.16 a barrel, while Brent advanced 0.6% to $67.25.
A rebound in buying interest has brought fresh volatility into the market. Investors are closely watching the Ukraine situation, where escalating tensions could trigger new sanctions on Russia and disrupt global oil flows.
While supply concerns are providing near-term support, the broader picture remains uncertain. Demand indicators have been soft in recent weeks, with global manufacturing data pointing to slower growth. This means rallies are vulnerable if supply fears ease or if peace negotiations gain traction.
At the same time, traders remain wary of the geopolitical premium. Any escalation could push Brent above the $70 mark, but without a clear improvement in demand, such gains may struggle to hold. For now, the balance of risks suggests more volatility ahead rather than a sustained trend.